Scarborough delves further into intermediary market
The lender will offer members of the mortgage club enhanced proc fees and exclusive products through the partnership, while Scarborough will receive greater exposure to intermediaries.
Simon Evans, relationship manager at Scarborough, said: “We are delighted to be teaming up with Mortgage Intelligence, who is a major player in the mortgage market. It offers its members a wide range of products and services and we feel some of our niche products and service proposition will provide its members with something different.”
One of the first products launched will be an exclusive holiday buy-to-let deal. Scarborough believed this type of mortgage, which bases borrowing on projected rental yield rather than the borrowers own income, is something which few lenders offer and was a factor behind the deal.
Sally Laker, managing director at Mortgage Intelligence, said: “Brokers have requested access to a lender that will consider holiday buy-to-let mortgages. We are delighted that by adding the Scarborough to our panel, we can now place these enquiries.”
The lender is also planning an enhanced online portal, incorporating decisions-in-principles, key facts illustrations, case submission, and case-tracking, set to be launched later this year.
Evans commented: “One of the things we are keen to do is to go back to basics and offer brokers the kind of personal service they used to take for granted. Through our broker desk, they will be able to build relationships with our broker team, who will then be able to support them in assessing cases on an individual basis.”