Bank of Ireland UK has returned to the broker market after five years.
The lender began distributing to brokers on 1 December through Reeds Rains, Your Move and Embrace Mortgage Services estate agencies, all part of the LSL Group, and plans to widen distribution in 2015.
The move follows the June 2014 launch of Bank of Ireland for Intermediaries in Northern Ireland. Presently, BoI provides the funding for the Post Office’s mortgages.
Until January 2009, BoI distributed to brokers through its former subsidiary Bristol & West.
Bank of Ireland UK Mortgages director of sales Alison Pallett says: “I’m delighted to announce that the Bank is taking its first steps back into the UK intermediary mortgage market under its own brand. This is in addition to the successful launches earlier in the year in Northern Ireland and Post Office in the UK.”
Chadney Bulding mortgage partner Jonathan Clark says: “Lenders coming back into the broker market is a positive step and BoI has had a presence by funding other brands like Post Office. They were very aggressive in the market previously but hopefully they have their proposition set up right this time so it’s welcome news.”