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RBS to double mortgage adviser numbers

Royal Bank of Scotland has revealed plans to double the number of its mortgage advisers as it seeks to gain a 20 per cent share of the UK mortgage market.

According to a report in the Daily Mail, the lender will grow its mortgage adviser numbers to 800, from the current level of around 400.

The report says the bank currently has around 20 per cent of UK bank customers and a 12 per cent share of new mortgage approvals. It wants to increase its share of the mortgage market to 20 per cent.

RBS also said the Bank of England’s decision to prevent more than 15 per cent of bank loans being above an income multiple of 4.5 will not affect growth.

The lender announced at the start of June that it would follow Lloyds Banking Group in capping income multiples to 4x for borrowers seeking a mortgage above £500,000.

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. The foundations of yet another RBS scandal are laid.

  2. On current form RBS will need to double adviser numbers just to hold their current market share. Equally I don’t think that they have the processing capability to deal with 20% of the mortgage market.
    They don’t have a good record on getting quality with volume either!!!

  3. The Cynical Broker 30th June 2014 at 10:58 am

    If they’re looking to double the number of advisers in branch to achieve this increase in market share (no mention of intermediaries), does this herald the return of their infamous dual-pricing ?

  4. Wondering if those managers who ‘successfully’ led their Bancassurance proposition are now working in Mortgages………

  5. James Lindon-Travers 30th June 2014 at 12:45 pm

    It will probably still result in only having an adviser for one out of four branches. They will insist on seeing clients in office hours, refuse to see clients in their own homes or place of work and as for evening appointments – no chance! Intermediary business is the future but some lenders still don’t see it!

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