Royal Liver launched its mortgage protection offering last month to around 8,000 IFAs from Lifesearch, Park Row, Sesame, Bankhall, In Par-tnership, Tenet, Threesixty and Simply Biz but notably excluded Millfield from the list.
There are no plans to offer the product to the whole of the market but IFA market manager Andy Milburn says more firms will be added to the list over the coming months.
Milburn says: “Until Millfield’s situation is sorted out, we will not deal with them.”
Royal Liver has not yet started multi-tie negotiations with any distributors, preferring to leave such discussions on the back burner until the launch of its protection offering is well under way.
Millfield chief executive Paul Tebbutt says: “I did not know that Royal Liver was launching a protection product and even if they came to us, we would not pilot it. Axa is launching a very attractive protection proposition and we are on that panel with Sesame and Bankhall. There is no comparison between Axa and Royal Liver.”