Mortgage News
Nationwide to remind term-end mortgage customers about broker channel
Nationwide Building Society will start reminding customers from March that brokers can be used for product switching, alongside a range of direct channels.
The new 12-week maturity letters are to be sent from 6 March 2018 to members who took out a product via the introduced channel.
Borrowers will be advised they can come direct to the lender online, by phone, in branch or through a broker to move their mortgage – where previously advisers were not mentioned.
The change brings Nationwide’s maturity letters into line with those of The Mortgage Works (TMW), the Society’s buy-to-let arm, which already provides a variety of channel options including through intermediaries.
Ian Andrew, Nationwide’s director of intermediary relationships, said: “We wanted to make it clear to our members that they have a number of options when it comes to the channel they choose, should they decide to switch to another Nationwide product at maturity.
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“As a result, from March our future 12-week mailings will be changed to reflect this.
“This positive change is one of a number we have delivered recently, including reducing the time to process procuration fees and streamlining application processes, which further demonstrate our ongoing commitment to the intermediary community.”