RBS closed the channel in 2010 after taking the decision to consolidate its entire broker lending through the NatWest Intermediary Solutions brand but Mortgage Solutions reported earlier this year the group planned to relaunch the proposition to help increase mortgage lending.
RBS IP will relaunch on Monday with a full range of house purchase, remortgage, first-time buyer and buy-to-let products. The lender said it will offer mortgages between 60-95% LTV.
Alasdair McDonald will head the new Birmingham-based organisation, having worked across the UK mortgage market for the last 25 years.
The service will initially be restricted to appointed representatives of Tenet Group and Personal Touch Financial Services, all of which will lose access to NatWest Intermediary Solutions products from the launch date.
RBS IP said it planned to offer Help to Buy mortgage guarantee products to brokers at some point in 2014, following its launch through NatWest Intermediary Solutions later this year.
The RBS IP channel will ultimately become part of the Williams & Glyn’s business to be sold off by RBS due to EU requirements concerning state aid.
Alasdair McDonald, head of RBS IP, said: “We have an experienced team of mortgage professionals ready to work with intermediaries from Tenet Group and Personal Touch in offering customers an additional route to applying for a mortgage with RBS Group.
“I’m excited by the prospect of working with our intermediary partners and look forward to helping as many customers as we can with their mortgage.”
Neil Hoare, head of lending at Personal Touch, said: “We are delighted to be working with RBS IP in their return to intermediary lending. For members of our network this means greater support and focus along with products that closely meet their clients’ needs.
“We know our strategy to focus on the quality of both advice and advisers in the network was high in the lender’s rationale for choosing its distribution partners and we look forward to a successful launch.”
