An announcement has been made by Legal & General Mortgage Club about the extension of its partnership with Ipswich Building Society.
To increase its involvement and share in the New Build and Shared Ownership sectors, Ipswich Building Society will work closely with Legal & General Mortgage Club's New Build Club to improve its presence.
A number of companies – including IMS, Metro Finance and Key Solutions Mortgages – will now have access to the products on offer from Ipswich Building Society.
The original partnership began back in May 2015. Since then Ipswich Building Society has seen the value of net applications from Legal & General advisers rise by 88%, with the number of cases submitted also rising by 53%.
The extension of the partnership is set to allow Ipswich Building Society to improve its relationship with intermediaries. Richard Norrington, CEO of the regional lender, said of the partnership: “It is the right choice for us to continue strengthening our relationships with intermediaries and we are rightly proud of our relationship with Legal & General. Not only does partnering extend our reach beyond our traditional heartland, but it takes our platform to those who need it most and for whom our manual underwriting approach will continue to offer an alternative.”
Jeremy Duncombe, Director of Legal & General Mortgage Club, added: “We have been working closely with Ipswich Building Society to support their expansion in the intermediary market. They continue to champion the under-served borrowers, and have widened their distribution across an increasing group of our key intermediaries, including our new build specialists.”
“Borrower needs are increasingly changing, and it is great to be partnered with another lender who is working to help as many people onto the property ladder as possible.”