Gateway urges intermediaries to work with building societies

It said smaller building societies, who have not necessarily looked for increased distribution via intermediary networks, are becoming more open to controlled distribution outside of their geographical area.

Intermediaries have traditionally not focused on this sector as there were many other product providers but Gateway believes smaller mutuals are turning a corner and offering good products.

Marcus Radcliffe, managing director at Gateway, said: "These products will typically be lower risk, low LTV products but there is still an opportunity for brokers to secure these deals for their customers. We work with a number of intermediary networks and we are seen as a trusted partner and as such are able to make the relevant introductions."