There has been a mixed reaction from IFAs and mortgage intermediaries to the sale of Mortgage Force to West Bromwich building society.
Charcol product director Walter Avrili says: “There were rumours Mortgage Force was going to buy us! It seems that a medium sized building society is securing some distribution. I am surprised that Mortgage Force was the first one to be bought though.”
Park Row managing director, mortgages, Keving Paterson says: “There is an interesting school of thought that post regulation, lenders wil be trying to buy distribution. The market is not as it used to be. It is much more tightly controlled. I am not sure how this will benefit anybody. Lenders don’t buy IFAs for strategic investment – they buy for distribution.”