Networks celebrate Valentine’s Day by recognising lender support

Certain mortgage networks and intermediary firms have marked Valentine’s Day by recognising the business development manager (BDM) teams at Coventry Building Society and Lloyds Banking Group (LBG) for their commitment to the intermediary sector.

JLM Mortgage Services, Finance Planning Group, Alexander Hall, and several other firms have sent champagne and flowers to the BDM teams at both lenders as a token of appreciation for their ongoing support and collaboration with mortgage advisers.

RECOGNISING INTERMEDIARY-FRIENDLY PRACTICES

The participating firms highlighted a number of intermediary-friendly policies adopted by Coventry and LBG that set them apart in the market.

LBG was commended for its fair procuration fee structure for product transfer business, ensuring brokers are adequately compensated for their work.
Coventry Building Society was recognised for its commitment to providing at least 48 hours’ notice before making changes to its mortgage products, giving brokers sufficient time to manage client applications.

ROMANTIC GESTURE

Sebastian Murphy, group director at JLM Mortgage Services, said the gesture was about recognising lenders that work constructively with brokers.

“There’s often a perception that lenders and advisers are constantly at loggerheads when it comes to all aspects of our relationship. That’s not the case, and, specifically with these two lenders, all of us as businesses wanted to make a ‘romantic gesture’ on Valentine’s Day to show their BDM sales teams how much the way they engage, treat, and deal with us means to our advisers and firms.

“Lenders that get it right deserve to be recognised and rewarded, and we’re very happy to send these gifts to these much-valued individuals as a way of saying thank you.”

Dan Maskell, director at The Finance Planning Group, said strong partnerships remain key in a challenging market.

“We understand that every lender faces unique challenges, but strong partnerships remain essential. We value working with all lenders and deeply appreciate the continued support of Lloyds Banking Group and Coventry Building Society. Their commitment to collaboration and delivering for brokers and clients is admirable, and we encourage others to aspire to the same high standards.”

Richard Merrett, managing director at Alexander Hall, echoed the sentiment, acknowledging the importance of lender relationships in difficult market conditions.

“We truly value all of our lender relationships, but with some of the unique challenges the market has experienced over the recent past, we wanted to show some love to those lenders that have particularly supported our customers, our business, and our people. Happy Valentine’s to all at Lloyds Banking Group and Coventry Building Society; all you need is love.”