Ipswich Building Society extends reach in broker market with L&G Mortgage Club tie-up
- Credit: Lucy taylor
Ipswich Building Society has widened its reach within the broker market by becoming part of the Legal & General Mortgage Club.
The move also represents a return to active lending by the society following the completion of a two-year IT transformation project during which it reigned-back on marketing.
L&G Mortgage Club brokers will now be able to access Ipswich Building Society’s expert manual approach to underwriting which enables it to handle more complex cases, particularly around mortgage “misfits” such as older borrowers, the self-employed and self-builders.
Club director Jeremy Duncombe said: “As part of an exclusive agreement with Legal & General, Ipswich will accept applications from brokers across England and Wales as opposed to their normal local catchment area.
“At Legal & General Mortgage Club we are always looking to add value for our brokers. Ipswich offer innovative products and individual underwriting for several groups of borrowers who are underserved by the market at the moment.”
Paul Winter, chief executive of Ipswich Building Society, said “Legal & General’s Mortgage Club is the longest running and largest club of its kind in the UK, therefore our partnership will increase Ipswich Building Society’s reach into the broker market.
“This is a significant step for us on our return to lending now that our extensive IT transformation has been completed.”