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Scottish Life Mortgages launches virtual bank

A virtual bank to help intermediaries generate alternative income streams has been launched by Scottish Life Mortgages.

The facility offers access to personal loans, credit cards and household insurance products from a number of providers including Sterling, Loan One, Nationwide and Tesco. The range of products on offer will be increased over the coming months to include conveyancing and will writing services.

Director Steve Scholes says: “I have no doubt that online services will become increasingly important for mortgage intermediaries. What we are offering is not only the perfect solution, it is also totally unique.”

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