Seven mortgage clubs have launched partnerships with Together broadening the distribution of it’s specialist lending products.
Club Access, Legal & General, PMS Mortgage Club, Simply Biz, Paradigm, TMA Mortgage Club, Finova and Next Intelligence have signed up to Together’s bespoke Network and Club portal where they are able to submit regulated first charge mortgages, Buy-to-Let (BTL) and Consumer BTL applications direct to the Cheadle-based lender.
The member firms will also be able to submit cases for additional specialist products including Together’s bridging, commercial term and second charge loans through the clubs’ packaging partners.
This next step in broadening distribution to Network and Clubs sees Together opening their doors to up to 17,000 more advisors.
Nick Parker, Head of Networks and Clubs at Together, said: “We are delighted to be bringing on board these excellent partners, allowing us to reach more customers and introduce them to our expansive product portfolio across both commercial and personal finance.
“Demand for specialist lending is forecast to grow significantly in the near future as more and more people find themselves falling outside of standard lending criteria. The huge growth in numbers of self-employed, later life, complex income and shared ownership applicants is set to swell by 70% by 2029.
“Having built the proposition and portal, which has been extremely well received by the network partners that have joined us since September, I am excited to extend the proposition further to include club members.
“By building knowledge of the specialist product options and offering a wider breadth of options on how brokers can submit cases to Together the industry will be best placed to serve a growing customer base in the future.”
Together ’s Residential Market Report found that the specialist lending market is forecast to swell from £32 billion to £54 billion over 2023-29. By making specialist products accessible to more advisors the lender’s Network and Club partners will deliver the funding solutions needed for the growing numbers of customers who do not sit outside of the standard criteria framework.
