Brokers will also be able to access West One’s bridging products and benefit from the end-to-end service provided by West One Loans for all bridging, development and buy-to-let requirements.
Going live with L&G Mortgage Club is another important step in the specialist lender’s growth strategy for 2021 as it widens its distribution to include networks and mortgage clubs, making its offering more accessible.
The L&G Mortgage Club announcement follows the launch of a new range of buy-to-let products on January 18, as well as expansion of the buy-to-let team at West One Loans at the start of the year, and a company-wide brand refresh in December.
Joining L&G Mortgage Club will provide its brokers with greater choice of specialist buy-to-let products at a time when, despite the current lockdown, many landlords are looking to expand their portfolios.
Managing Director of West One Loans’ buy-to-let division, Andrew Ferguson, said: “This is good news for brokers as they will now have access to our range of buy-to-let products. These include up to 80% LTV starting at 4.04% on our standard range, as well as our specialist HMO/MUB range, with rates now starting from 3.54%.
“They will also benefit from the high service standards and quality individual underwriting that we offer at West One, where we are continuing our strong growth ambition for 2021 with this partnership.
“Our specialist buy-to-let proposition will appeal to brokers who need a flexible and pragmatic approach from a lender, and we’re pleased to make that available through the UK’s biggest mortgage club, L&G.”
Head of sales for Bridging & Development Finance at West One Loans Michael Grant added: “There is a lot to be positive about in terms of new opportunities and investment in 2021. Launching with L&G Mortgage Club is a real statement of intent all round and I can’t wait to get started supporting the team.”
Now in its 25th year, the Legal & General Mortgage Club is the largest and longest-running mortgage club in the UK, involved in nearly 1 in 5 of all mortgages in the UK in nearly 1 in 3 of all intermediated mortgages.
Danny Belton, Head of Lender Relationships at L&G Mortgage Club adds: “The demand both for bridging and specialist buy-to-let continues to increase. We are always looking to give our members access to the widest range of products, so that they have the biggest possible supply of solutions for their clients. Adding West One to our panel, with its individual underwriting and growing range of products, will add real value to our brokers and their clients.”
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