MPowered Mortgages has made its prime range accessible to all brokers, networks and clubs nationwide.
Since its launch into the residential market last year, MPowered Mortgages has limited access to its products to a handful of distributors and brokers. However, as of today, MPowered Mortgages will allow all regulated advisers in the UK access to its full range of products.
Mortgage clubs with access to the range include Legal & General, Paradigm, SimplyBiz, Dynamo, Connect, Ingard, Finova, Brilliant Solutions, TMA Club, The Money Group, TMA Club, John Charcol, Mortgage Force, Sense Network, Sesame Network and PMS Mortgage Club.
Stuart Cheetham, CEO of MPowered Mortgages, said: “We are delighted to be opening up our offering to the whole of the market so that all brokers can offer an MPowered Mortgage to their customers. In 2022, we launched our prime residential offering with the aim to deliver great consumers outcomes, exclusively through an advised broker journey.
“Not only will these customers benefit from our expansive product range, but also our technology-powered platform which is aimed at speeding up the mortgage process for borrowers and brokers.
“We are thrilled with the how we are delivering new levels of SLAs for brokers, for instance, getting an AIP can be done in three minutes, an entire application can be keyed in less than 10 minutes.
“In 2023, we will look to deliver a real-time full contractual mortgage offer – this means when a broker submits a case, this can be offered instantly through our proprietary technology.
“The progress we have made since launching our prime business is thanks to our fantastic team at MPowered Mortgages and our investor backers.
“We have delivered this in volatile market conditions which demonstrates our resilience as a business, and we look forward to continuing to grow our reach in the prime residential market.”
Danny Belton, head of lender relationships, Legal & General Mortgage Club, added: “Today’s announcement is a welcome helping hand with our industry’s efforts to improve product choice, which has grown steadily since October. Advisers and customers have a fantastic range of products at their disposal, teeing our industry up for another strong year.
“No one can be certain of the outlook for our market, but having a wide array of products to lean on gives us the best chance at navigating any hurdles. I look forward to further cross-industry collaboration and innovation which provides strong finance solutions that respond to our customers’ varied needs.”
