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HBOS hints that it could launch a sixth brand

HBOS says it plans to keep all five of its mortgage brands and is hinting that it could set up a sixth brand.

When asked by brokers at a conference for its top 20 intermediary partners this month whether any of its brands would be merged, the response was a firm no, with the company saying it wondered whether it had enough brands.

Some brokers at the secret meeting also questioned the role of TMB, saying they did not understanding the difference between the packager-led brand and BM Solutions.

Intermediaries say HBOS could use a sixth brand for a new equity-release offering, after admitting it is considering a move into the market, or use a new channel to house any intermediary-only products.

Spokesman Matt Grayson says: “We have no current plans to launch a new brand but nothing is ruled out and nothing is ruled in at the moment. HBOS is very successful and is growing.”

TMB managing director Nigel Payne says: “We have sought to distinguish our role by making it clear that we primarily distribute via packagers whereas BM primarily deals via direct brokers.”

Chase de Vere Mortgages director Nick Gardner says: “There are logical reasons why HBOS may decide to launch a new brand. If they put specific products that were exclusive to intermediaries via a new brand, then it would help intermediaries and mean that they could have one speed-dial button to that centre.”

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