The 95-year old building society hopes its new brand will reflect its ambitious growth targets rather than its history.
To attract more intermediaries to its range, the society has redesigned its website to be more intuitive and easy to navigate. Next year, the second stage of the website redesign will be to add affordability calculators and mortgage illustrations.
Ambitious targets
The proportion of Vernon’s mortgage applications from brokers rose from 60 per cent in the year to the end of September 2018 to 78 percent in the last 12 months. In the next five years the mutual expects broker business to account for up to 90 per cent of its total mortgage lending.
Steve Fletcher, chief executive of Vernon Building Society, said: “We’re focused on improving our broker proposition and the rebrand is one part of that.
“We are committed to designing innovative products alongside our mainstream mortgages so we can support a broader range of clients from first-time buyers to later life borrowers.”
In the last 18 months, the society has increased its broker business development team from one to three people.
