Openwork is expanding its specialist lending panel with the addition of new providers for specialist residential, buy-to-let, second charges and bridging loans.
The Brightstar Group and Positive Lending have been added to the panel following a selection process. Over 20 potential partners were involved in the selection process, which encompassed analysing each firm against more than 50 separate criteria across amongst others, product offering, service performance, technology, regulatory focus, financial strength and commercials.
Openwork said that while many firms offered “excellent” propositions, Brightstar and Positive Lending were the “standout” candidates.
Brightstar and Positive Lending join Openwork’s existing specialist partners – BuildLoan, Enterprise Finance, The Business Mortgage Company (TBMC) and TFC Homeloans. As part of the re-fresh all existing partners have ungraded their offering for Openwork, delivering wider propositions, improved service and better value for clients.
Paul Shearman, proposition director, mortgages & protection at Openwork, said: “Our refreshed specialist panel will help us serve clients with more demanding needs such as those with more complex income, employment or credit profiles, clients looking to borrow for the short-term or raise additional funds that cannot be met through re-mortgage and much more.
“We’re delighted to strengthen our existing relationships as well as to introduce new options for our clients and advisers. The addition of Brightstar and Positive Lending will offer greater choice to our advisers and their clients, backed up by best in class service. I know the changes will be well received by our advisers.”
Paul McGonigle (pictured), chief executive of Positive Lending, added: “We’re delighted to be appointed to Openwork’s revised master broker panel for specialist lending support. Through Positive, Openwork members can access whole of market lender panels for bridging, second charge, complex residential and buy-to-let, including exclusive products and restricted lenders.”