Scarborough Building Society Teams Up With Mortgage Intelligence

Press release published on 5 April 2006 by Scarborough Building Society

Scarborough Building Society has further enhanced its growing broker commitment, by adding one of the UK’s foremost mortgage clubs to its key account panel.

Mortgage Intelligence has joined forces with the Scarborough in line with ambitious plans for continued expansion in the year ahead.

The partnership means that members of the Mortgage Intelligence club will benefit from enhanced procuration fees and exclusive products.

For the Scarborough, this deal forms part of its strategy to increase the amount of business it does with all intermediaries, towards its aspiration of offering an industry-leading service.

Its Relationship Manager, Simon Evans, said ‘We are delighted to be teaming up with Mortgage Intelligence, which is a major player in the mortgage market. They offer their members a wide range of mortgage products and services and we feel that some of our niche products and our service proposition will provide their members with something different.

‘One of the things we are keen to do as part of our strategy of improving our intermediary offering is to go back to basics,’ he added

‘We want to offer brokers the kind of personal service they used to take for granted, through our branches or via our Broker Desk, where they will be able to build relationships with branch managers or our Broker Team, who will then be able to support them in assessing cases on an individual basis.’

An example of the Scarborough’s current niche products is the Society’s Holiday Buy-to-Let mortgage, which is one of the few ‘self-funding’ schemes for holiday let properties, i.e. the borrowing is based on projected rental income rather than the borrower’s own income.

The Scarborough is currently designing an Exclusive Holiday Let product for Mortgage Intelligence, which will be available over the next week or two.

Sally Laker, Managing Director at Mortgage Intelligence, said; 'Brokers have requested access to a lender that will consider holiday buy-to-let mortgages. We are delighted that by adding Scarborough Building Society to our panel, we can now place these enquiries.

‘We are hoping to offer our members an exclusive product and are very confident that the service they receive will be excellent. In addition, the Scarborough's expansion plans for the coming year will only continue to enhance the proposition to our members.'

Scarborough is planning to enter more specialist markets this year and is confident mortgage intermediaries will be interested in these products.

Other plans for this year include the launch of an online broker portal offering online DIPs, KFIs, case submission, and case tracking.

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