Pink will pay broker commissions of 0.45 per cent with a £1,500 maximum on credit repair deals, with all other products attracting a 0.3 per cent commission online and 0.25 per cent via paper application.
Tony Jones, managing director of Pink Home Loans, said: “We are constantly reviewing our panel offering to ensure we are giving our intermediary customers extensive choice across the mortgage market and that they in turn offer their customers excellent product choice.
“The addition of Cheshire adds a respected regional society to our panel and features such as a free valuation up to £750,000, no requirement for brokers to pre-register and a streamlined online service will make Cheshire an attractive proposition to consider.”
Cheshire Building Society has recently come in for criticism as part of a survey by the Financial Mail looking into bosses of top building societies pocketing ‘inflation busting pay rises’.
Former chief executive Colin Whittle saw his 2004 pay leap 42 per cent to £358,200, boosted by bonuses totalling £120,600. Yet society profits dipped slightly by 1.3 per cent to £7.6 million.
Whittle has since resigned, with Karen McCormick instated as the new chief executive. Cheshire defended the pay increase. A spokesman said: “If you look at Whittle’s pay over the last five years, it was commensurate with that of an executive of a top ten building society, which Cheshire is.”
According to the Financial Mail the pay of seven other chief executives rose in 2004, even though the profitability of the societies they manage fell. They were Barry Hunt (Hinckley & Rugby), Mike Lazenby (Kent Reliance), Graeme Dalziel (Dunfermline), John Milton (National Counties), Matthew Bullock (Norwich & Peterborough), William Webb (Progressive) and Kevin Robinson (Universal
