First Direct launches intermediary products via Pink Network

Pink will initially offer First Direct's core mortgage range to its network members but said it is expected to launch exclusive deals with the lender further down the line.

The launch is effective from Monday 11 July.

Until its partnership with Pink, First Direct had only made its products available to intermediaries through limited access via London & Country and Moneyquest.

Tony Jones, managing director of Pink, commented: "We're delighted to have been chosen by First Direct as the first network it will launch its products through. We have had a lot of success in bringing new lenders to the intermediary market."

"First Direct has some very competitive flexible deals and is known for its low rates, low fees and early repayment options. This will all provide more choice for our brokers and their clients," Jones added.

Jimmy Kelly, manager of broker mortgages at First Direct, said: "We've been testing the intermediary market and how it might work for us since January 2004 through a limited pilot scheme.

"This deal with Pink is the next step in our pilot phase, where Pink will provide wider geographical scope for us. We want to learn as much as possible before we decide what our next stage in this development will be."

David Hollingworth, mortgage specialist at London & Country, commented: "We have an exclusive product with First Direct. It was piloted with us and a few other brokers but as far as we know it's only continued to be made available through us.

"Our partnership with First Direct has been very successful so we are not surprised by its move to link up with Pink. It is very keen to widen its distribution and sees the intermediary market as offering some good opportunities to achieve this."