Launching a new broker brand allows us to dedicate our three existing brands to the packager market to meet our packager clients’ changing needs. All three brands have been built successfully around packager-focused services and we do not want to alter their focus by trying in the future to combine this with a scale direct-to-broker proposition. This decision was made after taking feedback from packagers and brokers.
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Our aim is for those brands to continue to offer the best products and services to support packagers, with each brand covering a clearly defined product and service proposition. These will all be based on a state of the art IT platform, which will streamline our service to ensure that we offer focused, economic and leading edge services.
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However, it is clear to the market that some brokers prefer not to do business through packagers, for whatever reason, and it makes competitive sense for us to diversify our distribution. By doing so through a separate brand, we will be able to offer a multi-brand proposition attuned to the different market needs of each key channel. As we are already set up to run multiple brands this is also a relatively simple and cost-effective solution for us too.
Yours faithfully,
Simon Hinshelwood
Chief executive officer
Managing Director
Lehman Brothers Mortgage Capital businesses
