Without doubt, I think it is the biggest shake-up of the relationships ever and augurs well for the future. Not only is the remortgaging process for existing customers going to be easier and more efficient, the intermediary will benefit from the procuration fee, which, providing the intermediary keeps to the FSA principles of best advice, would be welcomed.
Importantly, it has also taken a grown-up approach to data protection, which is long over due by the market in general
Other lenders will have to follow Halifax in this major change in the relationships between lender and intermediary.
Regards
Danny Lovey
The Mortgage Practitioner
