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Metro Bank planning to sell mortgages through brokers

Metro Bank will distribute its mortgage products through intermediaries within the next 12 months, Money Marketing understands.

A spokeswoman says the bank is “growing and developing its proposition” but would not confirm a move into the intermediary market. In December, Money Marketing’s sister publication Mortgage Strategy reported that one of the bank’s business development managers had visited brokers to test the appetite for a non-proc-fee offering.

This week, the bank announced it had raised £126m to support new branch openings as it eyes a 2014 flotation. The bank was set up in 2010 and has over 80,000 personal and business accounts and 12 branches in the Greater London area. Reports suggest the bank had provided just 100 mortgages to customers by the end of 2011 but the bank refused to confirm the exact figure. It plans to have 200 branches by 2020.

Capital Fortune managing director Rob Killeen says: “We would love to see Metro Bank offer its products through intermediaries.”


Lords urged to take time to improve bill

MPs are calling on the House of Lords to introduce much needed improvements to the Financial Services Bill. The Treasury select committee says inadequate time was given to scrutiny of the bill as it passed through the House of Commons and peers must take the time to press for changes. The committee’s report blames the […]


Axa cuts 70 Yorkshire and Clydesdale adviser roles

Axa Bancassurance is to cut 70 adviser roles working with Yorkshire and Clydesdale Banks. The roles will be cut across northern England and Scotland. Staff involved in the cuts were informed of the move in a briefing this morning. An Axa spokeswoman says: “Axa has today announced changes to its Clydesdale and Yorkshire bancassurance structure resulting […]

SimplyBiz in platform talks with Zurich for restricted venture

SimplyBiz is in advanced discussions with Zurich about using its platform for the support services firm’s new restricted national proposition. Last month, SimplyBiz chairman Ken Davy announced it is launching the restricted nat-ional business later this year. The firm says it plans to sign up a number of platforms but Zurich looks set to become […]


Bourke quits Friends for Bupa

Friends Life heritage chief executive Evelyn Bourke has resigned after less than a year in the role. Bourke, a qualified actuary, will leave Friends Life in the autumn to join Bupa as chief financial officer. Her successor has not been named. She joined Friends Life in May 2009 as chief financial officer and became an […]

Natixis video: Making smarter use of asset classes

Content supplied by Natixis Global Asset Management This video from Natixis Global Asset Management focuses on Active Share. One strategy for the smarter use of equity investments is ensuring you get what you pay for. According to the company, looking at Active Share can give you a better perspective on where performance comes from. Active […]


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