20 January 2017

TSB Intermediary customer numbers sky rocket 78% ahead of second anniversary

More than 32,000 new customers welcomed in 2016 compared to 18,000 in 2015

Britain’s challenger bank pledges they’re “here for brokers” as it celebrates second anniversary

TSB to launch product transfer proposition in 2017

Tomorrow, 19 January, marks two years since TSB mortgages became available through brokers across Britain. TSB Intermediary’s second year has built on the success of the first, welcoming an additional 32,000 customers – a leap of 78 per cent in just one year [i].

Shaking up the broker market

When TSB Intermediary launched in January 2015, its aim was to “shake up” the broker market and to stand out from its competitors through delivering a premium service as standard. And it is doing exactly that. TSB Intermediary promises that all calls to relationship managers will be returned within three hours and any email enquiries received before 17:00 will receive a response the same day. In the past year, TSB Intermediary took more than 320,000 calls – all answered, on average, within 44 seconds – and received more than 16,000 emails.

TSB Intermediary also provides access to decision makers; when an application is referred to an underwriter, brokers have direct access to that underwriter to help them understand any additional requirements.

240 people in the TSB Intermediary team, including 36 Business Development Managers (BDMs), have worked with 9,240 brokers in the past year. 79% of brokers surveyed said they “trust TSB with my business”.  

Launching a new product transfer proposition in 2017

Brokers provide TSB with great customers. To continue its support for brokers, TSB Intermediary will be launching a product transfer proposition towards the end of the year to coincide with TSB’s first significant maturities. As part of the proposition, TSB Intermediary intends to pay a fee to their brokers.  

Roland McCormack, TSB’s Mortgage Distribution Director, said: “It was another incredible year for TSB Intermediary and we continued to go from strength-to-strength. We set out two years ago to ‘shake up’ the market and we’ve done exactly that, with the number of new customers at TSB Intermediary jumping 78 per cent.  

“We’re here for brokers and will continue to do so in the future, which is why we’ll be launching a product transfer proposition, which includes a fee to brokers, by the end of the year.  

“Thank you to all the brokers that have supported and done business with us in the past year and also to the TSB partners that have worked so hard to make TSB Intermediary a success.”

 

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Notes to editors

TSB was built to bring more competition to UK banking – to be a real challenger to the big banks and to deliver the kind of banking the people of Britain want. TSB only serves local customers and local businesses, to help fuel local economies, because communities thriving across Britain is a good thing for all of us.

We have a simple, straightforward and transparent banking model and make clear on our website how we operate and make money. We offer the products and services people tell us they want, with none of the funny stuff people normally associate with traditional banks. 

Our 4.95 million customers, award winning mobile and digital banking, nationwide network of branches and 8,200 Partners mean we are big enough to make a difference, but small enough to be an agile challenger to the entire market. 

For further information about TSB Bank plc, please visit our website www.tsb.co.uk

[i] In its first year, TSB Intermediary welcomed 18,000 new customers.