NAB restructures broker distribution
National Australia Bank has restructured its third party mortgage distribution business, NAB Broker, with the aim of offering brokers better access to its products and improving customer service.NAB is making its full range of home loan products available to brokers. Products previously unavailable to brokers include the Base Variable Home Loan, Tailored Home Loan, Flexiplus Mortgage and Choice Package.NAB Broker general manager Steve Kane said: "These four products will provide more flexibility for brokers and more choice for customers."Kane said the broker channel was being aligned more closely with the retail channel, giving borrowers who come through brokers better support and the ability to modify their loans through either channel.Loan pricing will be consistent across the direct and broker channels.Kane said NAB used research conducted by RFi and Genworth to analyse the market when making the changes. "Insights from the research indicate a consistent product suite among lenders and brokers is important for minimising customer confusion as well as meeting customers' expectations," he said.