Broker slams Clydesdale Bank for dropping his firm

Broker slams Clydesdale Bank for dropping his firm

A mortgage broker who claims to have generated nearly £1.5m in the past 12 months for Clydesdale Bank has criticised the organisation for dropping his firm from its panel.

Ben Wall, director of Bristol-based Wall 2 Wall Finance, said he received an email on 10 June saying: “The lack of business received from the firm over the past 12 months demonstrates that unfortunately our offering no longer matches both your own or your clients’ needs.”

The email cited the costs of maintaining directly authorised firms such as Mr Wall’s on its panel.

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However, Mr Wall claimed the firm, which has been on the panel since at least 2004, had submitted three successful applications worth £425,000, £500,000 and £450,000 in the past 12 months, totalling more than £1.3m.

Right to reply

A Clydesdale Bank spokesman said: “We have a relationship-based panel that we review regularly around a number of factors, not just the level of business written. We understand the disappointment at the decision, and are sorry we did not communicate this better to the broker.”