RBS IP, which launches on Monday 2 December, will offer mortgages worth 60% to 95% of the property’s value (loan to value or LTV), initially through the appointed representatives of Tenet Group and Personal Touch Financial Services. The range will include purchase and remortgage deals for first-time buyers and home-owners as well as buy-to-let for landlords.
Williams & Glyn
The brand will eventually become the mortgage intermediary business of Williams & Glyn, a new bank to be launched following disposal of RBS’ “Rainbow” business, sold as a condition of RBS receiving state aid.
Alasdair McDonald, Head of RBS IP, said: “We have an experienced team of mortgage professionals ready to work with intermediaries from Tenet Group and Personal Touch in offering customers an additional route to applying for a mortgage with RBS Group.
“I’m excited by the prospect of working with our intermediary partners and look forward to helping as many customers as we can with their mortgage.”
RBS IP will be based in Birmingham with a team of phone-based business development managers, supported by a sales support team.
Tenet Group is one the UK’s largest adviser support groups with over 25 years experience and is backed by Aegon, Aviva, Friends Life and Standard Life.
Personal Touch Financial Services was established in 1994 and offer technical and regulatory support to a community of more than 400 highly-qualified financial advisory firms, with a focus on mortgage and life insurance.