Lloyds Banking Group’s managing director for mortgages, Colin Walsh said: “I understand the value of independent advice completely. But some advisers still have lessons to learn in terms of offering quality service, greater professionalism and training.”
He added: “It’s really important that consumers can trust both independent advisers and bank branch advisers.”
Walsh was unable to put a timeline on an improvement in credit conditions, but said he expected the government to offer first-time buyers greater support after the Spending Cuts bed in.
Walsh told sister magazine to Mortgage Solutions, Your Mortgage that first-time buyers were very much on the government’s radar.
“Whilst the government’s first priority remains tackling the deficit, I am sure they too would like to see a sustainable UK housing market and a critical part of that is creating better conditions for first time buyers,” he said.
Lloyds is estimated to lend 1 in every 4 mortgages in the current UK market.
Colin Walsh’s name was announced today as the next chairman of the Council of Mortgage Lenders, replacing Matthew Wyles. He is set to take up the post next year.
