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HSBC extends distribution to Openwork

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  • 01/11/2016
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HSBC extends distribution to Openwork
Openwork has appointed HSBC to its lender panel, giving members access to the lender's full suite of residential mortgages up to 90% loan-to-value (LTV).

HSBC is the fifth new lender to be made available to Openwork advisers this year.

The bank has phased in distribution to mortgage brokers since its pilot launch with Countrywide in October 2014.

Figures released by Openwork this week showed mortgage completions at the network totalled £8.2bn from quarter one to end of Q3 this year, surpassing the £6.4bn recorded during the same period in 2015.

Paul Shearman, proposition director, mortgages, protection and GI at Openwork, said: “We conducted a survey among our members early this year regarding which lenders they were keenest to see added to our panel and the one player that was named by virtually every adviser was HSBC.

“Its addition will strengthen our panel, particularly from a brand and competitiveness perspective, and I know it will be massively well received by our advisers and their clients.”

Tracie Pearce, head of mortgages at HSBC, added: “Our continued expansion ensures that more customers will have the opportunity to access HSBC’s products helping customers get a great deal on their mortgage.”

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