Teachers BS set to launch broker arm this year

A spokesman for the building society, confirmed the plans and said that it would be “open for business” to intermediaries in May.

The lender currently operates direct from its head office in Dorset and is the 34th biggest building society in the UK, according to the Building Societies Association.

Fahim Antoniades, group director at Mortgage Centre IFA said: “It’s always good to see a lender opening up its business to intermediaries. Hopefully we will see more of the same this year.”

Melanie Bien, director at Private Finance, added: “While its great news it will be quite a job for the building society to get to know the intermediary sector. The type of products it offers will also be key.”

Last month, Teacher’s Building Society released its annual financial results reporting pre-tax profits of £0.531m for 2010 and increased reserves of £18.8m, helped by the removal of arrangement fees on most of its mortgage products.