Barclays intermediary sales director David Finlay says brokers will help lenders increase their share of the mortgage market in the future rather than lenders own direct-to-consumer efforts.
At the CML conference, he said distribution channels do not affect the performance of the loan. He said: “If a lender is to look hard at its various distribution channels and look at the performance of the assets, there is absolutely no significant difference between an intermediated loan and a mortgage that comes directly to us.
“If we are looking for growth in the market then I believe we have to look to intermediaries to help us.”
Nationwide Building Society head of intermediary sales Ian Andrew said the society is looking to grow its intermediary proposition next year.
He said: “We are very supportive of the intermediary market. We have got ambitions to grow lending volumes next year and we see the growth coming from the intermediary sector.”
London & Country head of communications David Hollingworth adds: “I think they are absolutely right. There is a lot of talk about whether there is any more capacity in terms of direct channels to actually grow lenders’ lending levels in the market. Whilst it is clear they will support that channel, they have to turn to brokers for growth. It is good to hear lenders say that.”