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.