A mortgage lender who does not rely on a branch network for distribution. Centralised lending operations take their business from intermediaries or through the Internet.
A general term applied to mortgage lenders, but not to high street banks and building societies, who mainly operate wholly from a head office location.
This is a lender who does not have any branches and may operate from one location either through brokers or via the telephone.
This refers to the group of lenders, other than high street banks and building societies, who operate without a branch network, normally from one location.
This is a generic term for a lender which operates from wholly from a central/head office location rather than from a network of branches. Examples include telephone or Internet banks.
"Term used to describe a mortgage lender who does not rely on a branch network for distribution. Originally applied to specialist lenders who entered the mortgage market in the mid-late eighties (National Home Loans, The Mortgage Corporation, First Mortgage Securities, Mortgage Express and many others). This followed some de-regulation, which made the securitisation of mortgage loans a viable and potentially profitable option for lenders. (See SECURITISATION). Several building societies now have ""centralised lending"" operations which operate quite separately from their branch networks and rely exclusively on mortgages from intermediary sources."