The lenders – part of the Lloyds Banking Group – have made a commitment that there will be no price differential across its product transfer ranges for the next three months.

The pledge comes in response to concern from intermediaries and means that the rates available to customers through brokers will be exactly the same as those offered directly from the lender and via the branch network.

Nigel Stockton, sales director at Lloyds Banking Group, said it was aware that dual pricing was a ‘real concern’.

He commented: “We have always said that any differential should have minimum impact on brokers. Now we have put that commitment into practice. Harmonising product transfer rates across both channels shows that we’re doing all we can to support brokers.”

Halifax and Bank of Scotland will update their product transfer ranges imminently.

Sponsored

Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let

Sponsored by Aldermore