The lender has joined panel to promote its specialist offering
Earlier this month, Dudley Building Society joined the lender panel of SimplyBiz Mortgages as part of its strategic, phased return to the market.
Robert Oliver (pictured), distribution director of Dudley Building Society, said the agreement was also designed to enable the society to promote its specialist offering to a wider range of brokers.
Dudley Building Society – benefiting the society
“SimplyBiz are well respected, both from an originations and compliance perspective, making them a perfect fit for us,” Oliver said.
Oliver said he has a strong existing relationship with the mortgage club, and added that SimplyBiz aligns with the lender’s core business values and philosophy.
He said the partnership also benefits the society by improving its distribution footprint, as well as providing synergy with a partner who understands the lender’s proposition and is willing to help it develop this further.
Dudley Building Society – benefiting customers
Oliver added that the partnership helps the lender to get the right products to the right people, who are predominantly underserved mortgage borrowers with complex circumstances. It offers mortgages for applicants across niche mortgage areas, such as expat, buy-to-let, and holiday let.
“The consultative relationship that we have with SimplyBiz also allows us to work directly with them to develop our proposition, providing improved solutions for mortgage applicants,” he said.
Dudley Building Society – selecting partnerships
When identifying a potential partnership, Oliver said the society assesses how the other business aligns with both its current proposition and strategic objectives.
“We will also look at their panel of brokers to determine which will be most likely to transact with us, dependant on the specialist areas that they operate within,” he added.
Oliver said in order to choose one panel over another, the society approaches all new partnerships strategically, and will undertake research to understand where their brokers are placed and how they will then fit with the lender’s proposition.
“What stood out about SimplyBiz for us was that they are a well-respected business, with values that mirror ours, and I believe our partnership with the mortgage club will provide a more consultative relationship than alternate options,” Oliver said.
Dudley Building Society – looking ahead
Looking ahead, Oliver said the society is focused on delivering its mutual values to both its customers and community, in addition to facilitating brokers choice in the marketplace.
He added that the lender plans to continue developing mortgage solutions for the underserved, while also focusing on how it can further support its local West Midlands community.
“As part of this, we recently launched a community fund to support community heroes in our local area,” Oliver said.
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