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Brokers respond to Tandem "Treating Brokers Fairly" initiative

Journalist: Riz Malik

ended 28. July 2023

Tandem Bank, a lender dedicated entirely to intermediary services, has unveiled its new initiative, “Treating Brokers Fairly”. Richard Angell, the National Account Manager, passionately shared his belief that brokers should be freed from excessive working hours and unwarranted stress. Click here to view the entire video. UK newswire, Newspage, asked brokers if they appreciate Tandem's recognition of the broker's importance — and what is stopping other lenders, even those on the high street, from adopting a similar approach. Their views are below.

9 responses from the Newspage community

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Rita Kohli
Managing Director at The Mortgage Stop
This is very welcome from Tandem and sets a new benchmark for responsible behaviour from lenders. I'd love to see the intermediary trade bodies praise this and advocate for it to be adopted as best practice across lenders.
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Riz Malik
Independent Financial Adviser at R3 Wealth
Well done to Tandem for their commitment to fair dealings with brokers, a move they've undertaken independently. We, as brokers, understand how market volatility can fuel anxiety and stress for both clients and ourselves. Hopefully, the rest of the industry can take note and review their own operations.
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Michelle Lawson
Director at Lawson Financial
There are five words that describe this: Broker Friendly Common Sense Lending. Tandem are going above and beyond by committing to not just one proposal made by brokers but every single one of them. Roger Morris and his team have always been supportive of the broker community and this is very welcome. Other lenders: brokers are watching you.
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Stephen Perkins
Managing Director at Yellow Brick Mortgages
It is great to see a lender thinking about how to make life better for their introducing brokers, and in so doing, also fairer to the clients. I applaud Tandem Bank for these policy changes and hope more lenders follow suit. With over 80% of mortgage lending coming through brokers, you would think that treating brokers fairly would be of higher importance to lenders.
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Katy Eatenton
Mortgage & Protection Specialist at Lifetime Wealth Management
This is an amazing initiative and a breath of fresh air. Tandem are a new lender to the market, and they are definitely making themselves known. Let’s see who is brave enough to follow suit.
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Rob Gill
Managing Director at Altura Mortgage Finance
It's good to see a lender promoting initiatives that are good for their broker partners, their own staff and, ultimately, the client. A win-win-win and here's hoping other lenders, large and small, are able to follow suit.
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Scott Taylor-Barr
Principal Adviser at Barnsdale Financial Management
It is great to see a lender step up and take notice of the issues their intermediary partners are facing. Whilst "adequate notice" is a little vague, it is appreciated. The real wins here, though, are the promise to only implement rate changes during working hours and to allow rates to be secured at DIP stage. Let's hope that a few other lenders follow Tandem's lead and start to think a little more about the stress and unsociable working hours that they choose to impose on the people that provide them with 80%+ of their new business.
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Jamie Lennox
Director at Dimora Mortgages
Hats off to Tandem for launching TBF. Brokers and lenders don't need to be constantly at war with each other and it is great to see the support being given to work in unison. This will ultimately result in better outcomes for clients as well.
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Chris Schutrups
Founder at The Mortgage Hut
Kudos to Richard the team at Tandem Bank. It's great to see an intermediary lender considering all stakeholders in the process. It would be equally great to see other intermediary lenders follow suit and show the PLC banks the way forward.