FR: Can you tell us a bit about Handelsbanken and its proposition for intermediaries?
Handelsbanken has been working successfully with intermediaries for decades, but a couple of years ago we took the decision to develop this still further – and make it a key piece of our offering. I spent around a year developing our strategy, and then at the beginning of last year I was asked to be national head of intermediary business and was able to launch it nationwide. Over the past twelve months we have been focussing even more on the importance of brokers in the delivery of our growth aspirations. At the same time, we‘ve been supporting our colleagues throughout our branch network in raising the profile of our intermediary proposition in their specific areas.
Handelsbanken already delivers local relationship banking so well through our branch colleagues – who are empowered to make nearly all of the decisions that affect our customers and prospective customers. What we have done is take our knowledge of the broker industry – which I was part of for almost a decade – and align the two. Obviously the broker world is constantly evolving, and so must we, and looking ahead I think this is going to be great for all of us.
FR: You recently expanded your distribution via lender panels – is this a key part of your strategy going forward?
Absolutely. We have so far partnered with eight lender panels and we plan to continue this engagement going forward. Lender panels are a great way to showcase our offering to a wider number of prospective clients, and it is also helpful to help us find the right customers, and to help them find us. But more than that, each lender panel has its own approach and values, and we are careful to partner with ones who mirror our own core principles. Our approach, which emphasises individual customer service and relationships, naturally aligns us with some parts of the market more than others, and so this is a great way to ensure that we are put together with the right customers who will value that.
FR: What does your longer-term ‘relationship style’ of banking to brokers and their clients?
At Handelsbanken our entire approach is based on the idea that you do business with someone you know, and who knows you – knows you by name and understands your financial needs. This holds true for our personal banking and our business banking, right across the board, from every individual customer right up to our largest corporates. We believe banking decisions should be taken by a person, not a computer, and we look to work with people who value that. But we do understand that this approach is not for everyone – some people just want to press a few buttons, and to make their banking as frictionless as possible, and there is room for any number of business models in the banking world! But we find our approach really works for those customers who do value the personal touch, which is why we are regularly named as top for relationship management and customer satisfaction by independent surveys. Our low-risk approach has also meant that we have been named Europe’s safest commercial bank every year for the past eight years by Global Finance magazine.
FR: What do you think will be the opportunities and challenges for intermediaries this year?
With an estimated 1.8 million fixed rate mortgages set to expire in 2026 – with an estimated value of £261 billion – it presents a significant opportunity. But it will also present a challenge for some clients; those coming off low fixed deals, taken out five years ago, will be having to accept higher monthly repayments, whilst others rolling off two-year deals will often see their monthly payments fall. This mixed picture will bring into focus the value of practical mortgage advice – particularly where affordability is tight. So, in many respects it represents an opportunity and challenge wrapped up in one!
FR: If you could see one headline about the mortgage market in 2026, what would it be?
Steady house price inflation coupled with – as far as it can be – a predictable interest environment. Stability in the market will give house owners, as well as first-time buyers, the confidence to make that next step whilst also building some resilience to the market.
