The Mortgage Lender has unveiled partnerships with five mortgage clubs – SimplyBiz Mortgages, Paradigm Mortgage Services, The Mortgage Alliance, 3mc and Residential Home Loans.
The intermediary-only lender is yet to release the details of its product range, which will focus on lending into retirement and mortgages for the self-employed.
Martin Reynolds, chief executive of SimplyBiz, said: “We’re delighted to be able to offer our advisers a new, competitive range of specialist mortgages and partner with a team that has a track record of leading product innovation to fulfill specific customer needs.”
The Mortgage Lender, based in Glasgow, has been set up by a team that includes former board members of Mortgages plc, which was launched in 1997 and was a well-known name in the specialist lending market, securitising over £7bn of mortgages.
Pete Thomson, The Mortgage Lender’s sales and marketing director, said: “We’ve been working hard behind the scenes in the run up to our launch and have discovered a huge appetite among mortgage clubs, networks and distributors for a new lender that will challenge the market and provide a better deal for customers.
”Announcing our mortgage club launch partners is the first stage of us making those products available to the market.”
Bob Hunt, chief executive of Paradigm Mortgage Services, added: “The Mortgage Lender has a market leading proposition backed up by slick underwriting and a comprehensive broker portal. We’re pleased to have been chosen as one of its limited number of mortgage club launch partners.”