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Bank of Scotland reveals broker retention push

Bank of Scotland is to mirror fellow HBOS brands Halifax and BM Solutions with a retention strategy for mortgage brokers.

The scheme is likely to be launched early next year, although exact timescales have yet to be announced.

A spokeswoman says the scheme will be similar to that used by Halifax and BM Solutions whereby brokers are paid a full proc fee for retention business and the same deals are offered to new and existing customers.

She adds, though, that BOS has yet to finalise precise plans.

The Halifax launch was welcomed by a number of brokers when the decision was announced earlier this month.

At the time, HBOS managing director for intermediaries Nigel Stockton said the group would wait to assess the success of the Halifax and BM schemes before deciding whether to push ahead with retention strategies for the other three HBOS mortgage brands.

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