The service allows building societies to offer the product range of Amber Homeloans to complement their own mortgage product range.
One of the mutual societies to offer Amber’s products is Market Harborough, via their website, telephone help line or mortgage advisors.
Mike Perry, associate director sales and marketing at Amber, recognised one of the key strengths of mutual building societies is the excellent relationships between their staff and existing customers. Perry believed that from these relationships there are often prospects for the societies to develop more business opportunities, especially as social conditions change and their customers develop new requirements as more become self-employed or find themselves in financial difficulties.
The mutual building societies have access to Amber’s full range of products; from near prime to super heavy adverse, and from buy-to-let to self-certification; as well as Amber’s online Decision in Principle (DIP) which can be used by the staff to provide the client with a DIP whilst the client waits.
The Mutual One Mortgage Partnership initiative is being launched through a marketing campaign called ‘Step Inside a Mutual’ intended to alert the local communities around participating building societies to the fact that their local mutual can help; whatever their circumstances. It is hoped that the campaign will change the perception of what the local mutual can offer.
Mike Perry commented: "I am very pleased that Amber has this opportunity to work with mutual building societies and I hope that this will be the start of a relationship that we can develop in the future."
Barry Meeks, managing director at Mutual One, commented: “I am delighted that Amber is partnering Mutual One to develop this initiative designed for mutuals to both attract and retain customers.”
Paul Tilley, assistant general manager (customer services) at Market Harborough Building Society, commented: “It is vitally important, as a committed financial service provider, for Market Harborough to be able to offer its customers a full mortgage service when our own criteria precludes lending. This relationship helps with our objective of assisting potential borrowers throughout the whole mortgage process.”
