Bradford & Bingley is to bring John Charcol mortgage advisers into its branches in a move to up its broker business.
The firm is to begin rolling out the plan, which will see up to 800 mortgage and investment advisers permanently based in Bradford & Bingley’s branch network, in the autumn.
Chris Holland, group corporate affairs manager, said the move was part of a shift in emphasis that will see advice on mortgages and investments becoming core to its business.
He said: “Bradford & Bingley has been an IFA for investments since the mid 1980s. We have always been the largest IFA on the high street.
“In February, we bought John Charcol and that has obviously given us access to a network of independent mortgage advisers, and we are rolling that out from later this year to bring independent mortgage broking to our branch network around the country.
“Clients for financial services business are more sophisticated now and there is more competition for mortgage business. Those who can offer the best choice on the market place are going to be successful competitors.”
He said that the most important issue with the induction of John Charcol in the branches was maintaining its independence and this will be achieved by not requiring John Charcol to promote Bradford & Bingley products.
He said it was likely that the John Charcol brand would be kept and imported into the branches.
Holland added that John Charcol also brought a powerful online mortgage broking business to Bradford & Bingley.