The brokers will now be able to offer the lender's prime residential mortgages to their customers
Fintech mortgage lender MPowered Mortgages has partnered with Alexander Hall, LDNfinance, and SPF Private Clients – all of which will now be able to offer the lender’s prime residential mortgages to their customers.
Their customers, who can already access MPowered Mortgages’ specialist buy-to-let range, will now also have access to the lender’s suite of prime residential products, which includes two-, five-, seven- and 10-year fixed rate mortgages and its recently launched £500 cashback range.
Customers will benefit from a free valuation on every application, and a choice of no arrangement fee, as well as cashback options, designed to ease the financial pressure of buying a home. Rates currently start from 3.17%.
MPowered Mortgages said the partnership reflects its ongoing commitment to expanding its reach in the prime residential market by broadening access to its platform.
Read more: MPowered Mortgages expands prime residential range.
Over the past year, MPowered Mortgages has grown its network of established broker partners to around 5,000 in total, which also includes Mortgage Advice Bureau and London and Country. It has received investment backing from Barclays, Citigroup’s SPRINT arm, and M&G Investments among other key investors. The mortgage lender has also doubled its workforce and opened a new office in Leeds.
Read more: MPowered Mortgages announces expansion in Leeds.
Emma Hollingworth, distribution director at MPowered Mortgages, said they were delighted with the deals.
“At MPowered Mortgages, we remain dedicated to revolutionising the mortgage process for brokers and customers alike,” she stated.
Gareth Lowman, director at SPF Private Clients, commented that through the partnership, not only will they be able to offer their customers more choice, but also a faster application process and a smoother mortgage journey overall.
Stephanie Daley, technical advisor at Alexander Hall, added that they are looking forward to working with MPowered Mortgages.
“We are confident that their range of products and use of tech will enhance our ability to provide buyers with solutions beyond the big six banks that best cater to their specific needs and allow for quicker processing times,” Daley said.
Meanwhile, Greg Cunnington, chief operating officer at LDNfinance, was also excited with the deal.
“The mortgage industry has been notoriously slow to adopt technological solutions, and with brokers now facing more pressure than ever to secure mortgages, it’s more important than ever that lenders follow MPowered Mortgages’ lead to utilise technology to streamline the homebuying process,” Cunnington said. “We look forward to working with MPowered Mortgages as we, as an industry, continue to drive towards a smoother road to homeownership.”
