Connell, the second largest estate agency in the UK, has removed Halifax from its panel of lenders in a move which, according to industry sources, was prompted by a dispute over commission levels.
It is understood that Halifax has been dropped because it would not meet the increased commission demands of Connell. But neither Connell or Halifax have commented on the matter. Three other lenders, which remain unamed, have also been dropped.
David Livesy, director of Connell, said: ‘At the start of the year, Connell carried out a wide-ranging review of its lender panel. This was a normal housekeeping operation to ensure we continue to meet the needs of our customers. The decision to remove Halifax was based purely on commercial terms.’
Commenting on the news, Mark Hemmingway, spokesperson for Halifax, said: ‘We understand that Connell has been reviewing its panel and we can confirm that we are no longer part of its panel, but we cannot disclose the reasoning for this decision.’
