Natwest and Royal Bank of Scotland have acquired a 12.75% stake in Mortgage Brain, alongside Halifax, Nationwide and Alliance & Leicester.
Mike Green, sales director at Mortgage Brain, said: ‘The company is now getting more equity participants from the industry, so as time goes by we are becoming an industry neutral.’
However, Steve Hoare, managing director at HomeLoan Partnerships, disagreed.
‘Lenders can put their own bias on it and they will do. There needs to be at least one or two sourcing software groups which are independent and show everyones’ products. It may come to a point where everyone with a stake in Mortgage Brain decides only to show their own products,’ he said.