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RBS brings four brands under single umbrella

The restructure follows RBS canvassing brokers about how it could better define the difference between The One Account, First Active, RBS and Nat-West’s product lines – as revealed by Money Marketing in April – after it was criticised for a perc- eived lack of focus.

From February, under RBSIP, each of the four brands will concentrate on a spec- ific market segment and intermediaries will have a single point of contact for sales and services.

The One Account will continue to focus on current acc-ount and flexible mortgages, RBS will concentrate on mortgages for house purchase, NatWest will be the specialist lending arm and First Active will be the remortgaging brand.

RBS is the UK’s sixth-biggest mortgage lender, according to the CML, with 6.6 per cent of gross mortgage lending.

RBSIP managing director Jayne-Anne Gadhia says: “We will offer intermediaries a simpler and more straight- forward way of doing business with us. Between now and February, we will talk to our intermediary part- ners at a national and local level on what our approach means for them.”

John Charcol senior tech-nical manager Ray Boulger says that he expects NatWest to enter into other specialist areas, including sub-prime, and The One Account brand to offer an offset mortgage.

Savills Private Finance director Simon Jones says: “I am sure RBS has looked at HBOS and seen its success. The only problem I envisage is if you have one business development manager trying to sell all four brands, you may lose out as a result. You cannot come along with a bag of goodies and four hats on and tell brokers to take their pick.”

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