“There is a feeling from the restructure that the bank wants to prioritise the intermediary stream. The move has created clear lines of accountability, which they will want to focus people’s minds,” said Robert Sinclair, director of the Association of Mortgage Intermediaries (AMI).
The more focus any large lender can give the intermediary community, the more it helps, he said, adding Lloyds had always been “good” to intermediaries.
Nigel Stockton, Countrywide’s financial services director and ex-sales director of mortgages at Lloyds, commented on the restructure in a Mortgage Solutions One to One interview, coming shortly.
Stockton, said: “The main point of the strategic review appears to be beneficial for brokers. We’ve got the intermediary section being given its own space and its own profit and loss…so, the fact they are actually concentrating on intermediaries is good.”
A Lloyds spokesperson, said: “Intermediary sales are a key distribution channel for the Group, particularly in Mortgages and parts of our Wealth businesses, and for this reason we need greater focus on this area.
“The new role of director of intermediaries will span across Retail and Wealth and is aimed at deepening the Group’s relationships with intermediaries and ensuring we interact with them in a consistent way.”
