Letter to the Editor: It's time NFI nailed its colours to the mast

Letter to the Editor: It's time NFI nailed its colours to the mast

Nationwide for Intermediaries (NFI) needs to make a quick decision as to where their real loyalty and commitment lies.

With a raft of further lenders, and most notably, NatWest, confirming their intention to pay on retention business, Nationwide now look rather conspicuous as a major player standing alone.

The question is really quite simple: does Nationwide value the service that intermediaries can provide in recommending a retention product? If it does then a procuration fee would seem appropriate reward.

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If it does not then a clear statement as to why not would be helpful in understanding the brand's stance going forward.

Everyone knows that Nationwide provides a great mortgage proposition with generous criteria, good rates and flexibility but by ring-fencing customers from intermediaries at review time there is an air of greed and mistrust displayed by the lender.

Time to eat humble pie Mr Nationwide - and soon. If you do not, I fear you may well lose the bulk of your intermediary business.  

Nick Walker

Partner

Focus

Oxford