West Bromwich Building Society has registered the brand ‘The West Brom for Intermediaries’ as it gears up for a return to the intermediary market.
The lender withdrew from the intermediary sector in December 2008 due to adverse market conditions.
Last November, West Brom opened up lending to an intermediary panel comprising of four firms.
It has now registered The West Brom for Intermediaries brand in what a spokesman has confirmed signals the start of ‘phase two’ of its return to the intermediary market.
The West Brom will commence a review of the product range it will offer and the size of the intermediary panel, which it should complete by autumn.
A West Brom spokesman says: “This reflects the next positive step forward as the Society seeks to re-establish its position in the residential mortgage market.”
Alexander Hall chief operating officer Andy Pratt says: “West Brom’s return to the intermediary market is obviously welcome and will offer customers greater choice as well as promoting competition. Its range was relatively niche in the past so it will be interesting to see what products it decides to come back with.”