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Metro Bank does not rule out distribution through advisers

Metro Bank chairman Anthony Thomson says the bank does not rule out distributing mortgage products through mortgage brokers.

Taking part in a panel discussion in London today, Thomson said people should be free to use the distribution channel they prefer.

He said: “We don’t use them. We’re a tiny bank. But it comes back to my point that, I think that everybody should have to opportunity to use the channel they prefer. So if somebody wants to go to an intermediary to buy a mortgage, that is absolutely fine.

When asked if Metro Bank would consider using mortgage brokers to distribute its mortgage products, Thomson replied: “I would not rule it out”.

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  1. Great, not exactly a commitment either but at least he is being straight. Who wouldn’t access free distribution through brokers? Often a packaged case is far simpler and cheaper to administer and I would think the take up rate of applications far greater.
    This question doesnt quite confirm if Metro Bank hold value in dealing with brokers and as such would be prepared to pay a proc fee.

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