New Street Mortgages has announced a new distribution partnership with Legal and General Mortgage Club.
The arrangement is initially via its Nouveau firms, with the mortgage brand’s buy-to-let product range now available to the Mortgage Club’s intermediary partners.
The expansion follows New Street’s February pilot launch into the buy-to-let market with three initial distribution partnerships.
All Nouveau firms will have access to New Street’s buy-to-let pilot product range, and the brand will be actively seeking to engage with the Mortgage Club’s other key intermediary partners post-launch.
David Finlay, distribution director at the Northview Group, said: “New Street Mortgages is proud to announce news of our new partnership with Legal & General Mortgage Club. We are delighted to be extending our innovative, analytics-driven and modern approach to mortgage lending alongside Legal & General, given its immense experience and expertise in the market.
“Nouveau has a strong proposition, encompassing firms that maintain a commitment to a high standard of risk and compliance controls. We are pleased to have aligned with the Club’s strong and influential position in the market and look forward to delivering our modern, digital approach to lending to a growing number of intermediaries.”
Jeremy Duncombe, director of Legal & General Mortgage Club, said: “This partnership serves to strengthen Legal & General’s position in the intermediary lending market as a trusted, go-to distribution partner. We are excited about the prospect of bringing New Street’s sophisticated analytics-driven products on board.
“It’s ethos of empowering brokers aligns with our approach, and the partnership will aid us in continuing to provide a broad range of products through our partners to borrowers across the market. We look forward to further roll out shortly with our other key business partners.”
