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Matthew Wyles, group executive director of non-retail for Nationwide, said distributors would be assessed in aspects such as volume, margin, longevity of mortgage business, arrears performance and cost of procuration fees.

He said the days in which lenders treated all distributors the same based on a volume-led model were gone.

Mr Wyles said: "Essentially we want to understand in a much more granular way how profitable individual intermediary distribution relationships are for us.

"This is not about dramatic cutting of relationships. It is about putting us in a place where we understand much better who is contributing value. No everyone is equally profitable.

"For various reasons some will be more profitable than others and if that is the case then clearly we are going to need to consider how we engage and reward those distribution relationships.

"Where relationships are particularly profitable we will want to engage with those intermediaries about how they can share better in the value they are creating.

"Where we are seeing intermediaries that are disproportionately unprofitable we are going to have to have a less comfortable conversation."

John Malone, managing director of Premier Mortgage Service, said quantity was no longer a feature of the mortgage industry and distributors needs to fit with lenders plans going forward.

He said the mortgage club was undergoing a review of its distribution model to make sure they would still be a part of the market in two to three years.

Mr Malone said: "We have to change our proposition to make sure we are the player in the sector.

"Quantity is no longer a driver and it is the quality of the assets you are delivering to the lender that becomes the crucial element in the relationship now."

Chris Pearson, director of intermediary mortgages for Royal Bank of Scotland, said it was no surprise some lenders were reviewing their business models in the current climate.

He said: "Because of straightforward supply and demand issues around funding, lenders may opt to protect their service level standards and work with adviser firms that are experienced and have robust procedures that fit those of the lenders."

Mr Pearson said RBS did not have any immediate plans to place any restrictions on the partners they did business with.

Ricky Okey, managing director of Abbey for Intermediaries, said: "Naturally we would like to receive the highest quality business we can and encourage appropriate intermediary groups to do just that."

Rob Clifford, chief executive of Derby-based intermediary Mortgageforce, said: "It would be folly to assume lenders are not going to alter their approach to distribution."