Brokers will see one change ahead of the rebrand. From 7 July, the Lloyds Premier Current Account mortgage discount — previously available only on direct Lloyds mortgages — will extend to Halifax mortgages arranged through intermediaries. The rebrand to Lloyds Intermediaries will also allow brokers to write product transfer business on existing Lloyds mortgage customers for the first time.
The group outlined a further set of commitments to brokers, with more detail expected next week. These include procurement fees reflecting the complexity of broker work, a named business development manager contact, a 24-hour turnaround on document reviews with escalation where needed, and continued investment in technology, data and broker-facing tools.
BM Solutions will also move to the Lloyds Intermediaries brand at a later date, though the group has not set a timeframe. Once complete, the change is expected to create the largest intermediary mortgage business in the UK, bringing all of the group’s broker-originated mortgages under one brand.
“Brokers play a vital role in helping customers navigate some of life’s most important financial decisions, and we are showing how important we see that partnership with today’s announcement,” said Esther Dijkstra (pictured right), managing director for intermediaries at Lloyds Banking Group.
“With no change to our BDMs or the support we provide, it is business as usual. We’ve listened to feedback and are making Lloyds Premier discounts available, and from 7 July brokers can access these on Halifax mortgages.