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Heritage Building Society has reinforced its commitment to third-party distribution despite its decision to temporarily withdraw a number of its products from the broker channel.
Heritage confirmed last week that it would no longer offer its Basic Variable or Professional Package products via its broker partners.
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Paul Francis, Heritage’s general manager of retail services, told Mortgage Business yesterday, the mutual had made the decision as a result of unprecedented demand for the products, which was impacting servicing levels.
“Heritage has taken this temporary action because we are committed to maintaining our time standards in processing,” he said.
Mr Francis said time standards would be re-evaluated at the end of June with a decision to be made then about the short-term availability of the products.
“We are committed to maintaining our relationships with our broker partners,” he emphasised.
“The society’s commitment to the broker channel has allowed Heritage to maintain and grow our geographic diversification.”
