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West Brom BS plans return to wide-scale lending

Julia Rampen
Written By:
Julia Rampen
Posted:
Updated:
24/05/2013

West Bromwich Building Society plans to resume wide-scale lending through intermediaries for the first time in five years in order to compete with high street lenders.

The lender has created a small intermediary panel and registered a brand name in anticipation of increasing lending in the residential mortgage market.

A West Bromwich Building Society spokesman said: “The Society has resumed intermediary lending, albeit at a modest level. Lending is initially being conducted through a small selected panel of intermediaries, appointed in November 2012, and reflects the next positive step forward as we seek to re-establish our position in the residential mortgage market.”

The lender has registered The West Brom for Intermediaries brand with the Intellectual Property office and is currently reviewing the product range it will offer and the size of its intermediary panel. The review is expected to be completed by autumn 2013.

West Bromwich will not impose any geographical restrictions on its intermediary lending within England and Wales. While in 2008 the building society specialised in niche lending, it now plans to concentrate on the mainstream residential market.


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