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HMC in rebrand

Household Mortgage Corporation, the centralised lender owned by First National Bank, is to rebrand as First National Mortgage Company.

FNMC is set to be laun-ched on October 2 and will operate through registeredintermediaries, taking over HMC&#39s existing residential mortgage book which is worth over £1bn.

FNMC will accept mortgage applications from brokers from October 2 and new products will be available on October 23. It will have no involvement in the second-mortgage market, where it says First National Bank is already a leading provider.

HMC is not disappearing as a company but it will be the FNMC brand through which IFAs and customers deal.

FNMC sales director Ron Howell says: “Through HMC, First National has proved it can compete successfully in the UK&#39s intermediary-led residential mortgage market.

“Now, the First National Mortgage Company will provide a direct association with the First National name for the first time. Not only does this give us the opportunity to achieve a stronger presence but also, we believe, to open up the mortgage market in innovative ways which will bring direct benefits for consumers.”

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