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HSBC expands broker reach with two more firms – exclusive

  • 26/04/2017
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HSBC expands broker reach with two more firms – exclusive
HSBC has expanded its mortgage distribution through the intermediary channel with the addition of two more firms to its panel.

Intrinsic Financial Services and Knight  Frank join the bank’s panel taking the total number of firms distributing HSBC mortgages to 18 accounting for around 50% of the broker market.

Tracie Pearce, HSBC’s head of mortgages in the UK, said: “We are delighted to welcome on board our new intermediary partners. We entered the intermediary market and have methodically grown our presence over the last 18 months. The addition of these two firms means that over half the market now has access to our products, and we remain committed to offering great value and competitive products to our intermediaries and their customers.”

HSBC opened its doors to intermediaries in October 2014, and has adopted a slow but steady distribution expansion plan. After launching a pilot programme with Countrywide, the bank waited until August 2015 before adding a second broker to its panel, London and Country. In 2016, a further 12 were chosen to distribute HSBC mortgages, which last year accounted for 7% of its mortgage origination, its full year results revealed.

In February, the bank appointed Jackie Uhi to the role of head of mortgage distribution. Uhi, formerly the managing director of Barclays’ mortgage distribution, is responsible for managing the bank’s UK mortgage and protection distribution team across the branch network, contact centres and intermediaries.

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