Following months of speculation, Premier Mortgage Services, the mortgage panel of Prudential has finally got the backing of its parent company allowing business to continue as usual.
Industry speculation suggested the mortgage club, previously marketed under the Scottish Amicable brand, could either close down, or be sold to a third party.
John Malone, national mortgage manager at Scottish Amicable, said: ‘In the last four months there has been speculation about Premier Mortgage Services’ future, whether it will be retained, sold or bought out. Following a decision last week, lenders have been formerly advised that Premier will remain part of the Prudential strategy.’
New member benefits remain undisclosed, but will be rolled out in the near future.