West One signs major residential distribution deal with Legal & General Mortgage Club
West One Loans has added Legal & General Mortgage Club to its residential mortgage intermediary panel as part of a major expansion of its distribution strategy.
The deal means brokers writing cases through Legal & General Mortgage Club will be able to access West One's new range of residential mortgage products from today.
It is the first time West One has expanded its panel since launching into the residential mortgage market in November.
Legal & General has the largest and longest-running mortgage club in the UK, having facilitated more than £765 billion worth of lending since 1995. It is involved in one in three intermediate mortgages and one in five in the UK overall, highlighting its vast reach and influence in the market.
West One's residential range is aimed at borrowers who have non-standard borrowing requirements, such as self-employed borrowers, older applicants and those who struggle to meet the credit scoring requirements of high street lenders.
One of the main attractions of West One's proposition is that borrowers' creditworthiness is assessed on an individual basis by one of its highly-skilled underwriters and credit risk experts.
As well as Legal & General Mortgage Club, brokers can access West One's first charge range through a network of specialist distributors, including Aria, Y3S, Brightstar, Positive Lending, Loan.co.uk, The Loans Engine, Truffle Specialist Finance, Chase Blue, Everything Financial, Believe Specialist Finance, Complete FS and TFC Homeloans.
Marie Grundy, Managing Director of Residential Mortgages and Second Charges at specialist lender West One Loans, said: "Legal & General Mortgage Club is one of the largest and most respected mortgage distributors in the UK and so we are delighted to be able to announce our new partnership with it.
"This tie-up will provide Legal & General members with access to our recently launched range of residential specialist mortgage products, at a time when more borrowers need tailored advice solutions to navigate through the challenges of the current economic climate."
Danny Belton, Head of Lender Relationships at Legal & General Mortgage Club, said:"It is great to be able to support West One with this new product offering. The number of customers requiring a specialist lending option has continued to increase, and how Legal & General Mortgage Club members have another positive option to help support their customers through the advice they give."