Coutts, the wealth manager and private bank owned by NatWest, is introducing a range of mortgages to the intermediary market.
The move will see brokers given access to a range of residential and buy-to-let products, with support from a team of Coutts’ bankers.
Coutts specialises in the million pound plus loans market, and will offer tailor-made supports to clients when purchasing or remortgaging a property.
Two new roles have been created as a result of the expansion to support the existing business development team, including a national account manager and business development managers.
Coutts real estate director, Katherine O’Shea said: “Whether you’re buying your dream home, a second house or an investment property, Coutts prides itself on offering bespoke mortgages which provide flexible solutions to clients.
“Making our mortgages available to intermediaries not only shows our support to brokers, but also means we can better help more clients achieve their property goals with a mortgage that suits their needs.”
Meanwhile, NatWest mortgage distribution director, Gary Sutherland added that NatWest Group is committed to delivering an intermediary strategy that helps the market to grow.
He said: “We want to deliver brilliantly for mortgage intermediaries, enabling their clients to thrive. This change demonstrates our commitment to create an even better experience for brokers, making it easier for them to work with us.”
However, some in the mortgage industry are not convinced the move is a positive one.
London Money founder and director, Martin Stewart said he feels it is a case of Coutts being "swallowed into the pack" more than NatWest broadening its appeal.
"Coutts for many years were considered the HNW brand of mortgages and this will, in many respects, see them become a typical ‘large loan team’.
"There will be some adjustment needed on behalf of the lender as well," Stewart added.
jane.matthews@ft.com
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