Vernon Building Society plans to grow its intermediary business ‘significantly’ after teaming up with mortgage club SimplyBiz.
The partnership marks the first formal distribution agreement for the Cheshire-based lender, which lent £33.3m-worth of mortgages in 2016.
It offers a range of products, including buy-to-let loans, first-time buyer deals and retirement mortgages.
Tom Gurrie, intermediary sales manager at the Vernon, said: “We feel working with SimplyBiz will be an excellent opportunity to work with a club that has a real feel for putting regional societies together with their local brokers.
“We wanted to work with a distributor that understands the regional market and works closely with brokers in our area.”
Alison Darby, mortgage broker at Poynton-based Alpha Mortgages, said: “They are an older-style lender with manual underwriting. They offer products like regulated buy-to-let, which is rare in this business.
“They also do joint borrower, sole proprietor, self build and have a repayment level up to age 85.
“They do some unusual products like that, and the fact that they are non-credit scoring and manual underwriting is a bonus for the intermediary.”