The lender is set to market its products at high net worth individuals and has entered into partnerships with Legal & General, The Mortgage Times, The Whitechurch Network, London & Country and Moneyquest to offer mortgages via their networks.
It also has partnerships with Charcol Ltd, Hamptons International Mortgages Limited and Kingsway Mortgages Limited.
Dean Cutbill, general manager of third party distribution for NAB, said: “One of the main areas of interest for us will be the South East where we will be developing a series of financial solutions centres to offer clients other services like commercial lending funding.”
Rob Clifford, managing director of broker franchising operation Mortgageforce, commented. “In an already oversupplied market the only way they will be able to win market share will be by releasing innovative products or by incentivising brokers with lucrative procuration fees.”
He added: “They have recruited a very experienced and well-connected team and so should do well.”
Cutbill said Clydesdale had ambitious targets but would ensure that service remained key to the proposition.
“Too many lenders fall down when it comes to service; we will aim to bring the decision maker closer to the broker. We will make affordability the key underwriting criteria,” he explained.
“The key for us is to grow in the right way,” he added.
