Although it has no firm details, A&L told Mortgage Introducer that it is speaking to a range of brokers about how to improve its services for intermediaries. It is also looking at all potential market areas including equity release, buy-to-let and non-conforming.
Merhdad Yousefi, head of intermediary mortgages at A&L, said: “Come April 2006 A&L will be looking very different. We have no firm plans but we are seeking out ways to further develop our brand and the way we deal with brokers. The marketplace is changing and we are seeking ways to take advantage of this.”
“We have seen lenders go into areas you wouldn’t have expected. Who would have thought a few months back that Derbyshire Building Society would be entering the non-conforming sector?” he said.
Yousefi added that the lender is also speaking to several packagers about how they might feature in its future plans.
Jeff Knight, head of marketing services at GMAC-RFC, commented: “This would be an interesting move by A&L if it entered the more niche areas. It has a strong consumer proposition but this shows it is also dedicated to its intermediary partners.
“Competition is hotting up across all sectors and all lenders have to adapt to what’s happening in the marketplace. We are also expecting to have a different proposition next year. It’s a natural and essential progression.”
