Cahoot tests mortgage market

Cahoot tests mortgage market

UK standalone bank cahoot is to test the market for remote mortgage sales in a six-month trial conducted in conjunction with high street parent Abbey.

The new range of cahoot mortgages, including fixed rate, tracker and flexible, will only be available over the telephone. Customers phoning the cahoot mortgage sales line will go through to a special team at Abbey. All customer documentation will be branded Abbey and mortgage decisions and agreements will be with Abbey.

John Goddard, managing director of cahoot says: "We're dipping our toe in the market and testing the demand for mortgages from cahoot."

If the trial is successful, says Goddard, then cahoot intends to introduce its own fully-fledged mortgages, which are likely to be available online or over the phone.

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