Cheltenham & Gloucester is to cease offering mortgages through the intermediary channel
The announcement that from Lloyds Banking Group that Cheltenham & Gloucester is to cease offering mortgages through the intermediary channel from the end of March on the face of it seems like a blow.
The reality is that in the last twelve to eighteen months C&G has been far less competitive in terms of its offering via brokers and some time back ceased from offering B2L mortgages via intermediaries an area it had become very proficient in.
Whether this is part of Lloyds overall strategy in having to dispose of 650 branches only time will tell. C&G we understand will continue to offer mortgages via its retail network but you wonder if this is the one part of the business that will be put up for sale as part of the terms of receiving state support back in 2008.
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