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Halifax is lender choice despite admin problems

Halifax wins the vote for lender multi-ties with 40 per cent while Nationwide is second with 36 per cent.

IFAs were asked to list the four lenders they would be most likely to tie to. Abbey National is third on 31 per cent, Cheltenham & Gloucester fourth with 25 per cent, Northern Rock fifth on 15 per cent, Alliance & Leicester sixth on 9 per cent and Intelligent Finance seventh on fractionally less than 9 per cent. Woolwich is eighth on 9 per cent and The One Account is ninth on 8 per cent.

Halifax head of media relations Mark Hemmingway says: “We try and provide a range of competitive products and customer service. We recognise that brand has a big part to play in this.”

IFAs agreed that Halifax has suffered recently from poor admin, saying the success of a provider in these types of polls relies heavily on historical awareness.

Hulbert Financial Services mortgage compliance officer Simon West says: “Halifax offers access to a whole range of different mortgage solutions which can be an advantage to IFAs. Awareness is important, especially when dealing with the public, and everyone knows Halifax. I would put GMAC at the top. It is fairly new to the mortgage scene and deals with the prime market.”


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