Alliance & Leicester (A&L) is to establish an intermediary mortgage operation as an extension to its current mortgage processing centre in Belfast.
The move follows a review of A&L’s intermediary strategy which has seen the bank reassess the procuration fees it pays on electronic business (Mortgage Solutions, 25 August).
Andrew Robinson, director of intermediary mortgages at A&L said: “The decision to dedicate a mortgage centre entirely to intermediary applications comes as a result of feedback from a number of our intermediary customers, as we continue to seek ways to improve the service we offer.”
Robinson added: “The centre will provide one point of contact for intermediaries throughout the application process with an A&L team that understands the specialist needs of our intermediary customers.”
The centre has been developed for an undisclosed cost, and will create around 50 jobs. Larger loans – those over £300,000 – will be handled by the technical lending team in Leicester. The new operation is expected to be up and running by the start of the new year.
Andy Wilgoss, managing director of Square Mile, said: “This is a model other lenders use and it works well, and any dedicated process to intermediary business is to be commended. It shows willing and that A&L is interested in intermediary business.” However, he said being in Belfast would make it difficult to establish personal relationships with the intermediaries using the service.