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Edeus goes to “war” on rivals in explosive campaign

Edeus has launched a blistering tirade against direct players as part of a campaign to woo brokers.

The lender uses the slogan “screw branches, not brokers” in its potentially inflammatory crusade to urge intermediaries that providers with direct arms do not have brokers’ best interests at heart.

Another line used by Edues is that “the war is on” with Abbey, Halifax, Nationwide and NatWest all singled out for criticism, while Barclays cashpoints can also be seen in advertisements to be released next week.

The lender, headed by ex-HBOS pair Michael Bolton and Alan Cleary, has been no stranger to controversy since its launch last September with both its respective chief executive and managing director taking numerous pops at rivals, most notably Halifax and BM Solutions’ retention schemes.

Edeus says: “Halifax, NatWest, Abbey, Nationwide. Who are they kidding? They say: ‘We’re opening all these branches so we can serve our customers.’ Yeah right, should that not be: ‘so we can flog them more mortgages directly’? But what does this mean for brokers? We have never been able to work out how many lenders who operate branch networks can say they are committed to intermediaries.

“It is hardly rocket science but if a lender has branches that means they have also got a bad case of divided attention and are most likely too busy selling direct to talk to you. We believe that if you want to say you are committed to brokers then you have got to show it. And that means no branches, no direct salespeople and certainly no dodgy retention strategies.”


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Zurich wins UK national sales award

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Gregor Watt sums up the first couple of months of the Reit regime and finds some brokers sceptical of the new investment class but also welcoming the opportunity to invest in overseas property


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