Brokers from the Mortgage Club, which now has a 27% share of the intermediary market, will gain access to Ipswich’s products.
Ipswich is known for its manual approach to underwriting which allows it to handle complex cases around older borrowers, the self-employed and self-builders.
Jeremy Duncombe, director of Legal & General Mortgage Club, said: “As part of an exclusive agreement with Legal & General, Ipswich will accept applications from brokers across England and Wales as opposed to their normal local catchment area.
“Ipswich offer innovative products and individual underwriting for several groups of borrowers who are underserved by the market at the moment including transitional borrowers, first-time buyers and older borrowers.”
Ipswich recently completed a 2-year Information Technology ‘transformation’ project.
Paul Winter, chief executive at Ipswich, said: “Legal & General’s Mortgage Club is the longest running and largest club of its kind in the UK, therefore our partnership will increase Ipswich Building Society’s reach into the broker market.
“This is a significant step for us on our return to lending now that our extensive IT transformation has been completed.”
