The agreement comes at a time when demand for commercial and secured loan products is rising, and is a recognition that customers’ borrowing needs often extend beyond residential mortgages alone.
The arrangement with Residential 1, and its sister business Commercial 1, will give JMP’s introducers access to specialist expertise in these two significant growth areas.
Lorenzo Satchell, sales and marketing director at JMP, said: “We have been aware for some time of the opportunities which exist in both the second charge and commercial markets. It was important to us that in entering these markets, we were still able to offer our introducers the level of service they deserve.
"We have been deliberately selective about who we chose to access these markets through, and we believe Residential 1 to be the right partner for us.”
Martin Gilsenan, director at Residential 1, said: “We are delighted to be working with JMP. It is a like-minded company with an excellent reputation and track record for writing significant volumes of mortgage business.
"This exciting arrangement comes at an important point in our development, and allows us and our new partner to extend our reach into the increasingly important secured loan and commercial lending sectors.”
Adam Henry, sales and marketing director at Money Partners, added: “As a panel lender for both JMP and Residential 1, we were delighted to learn of this progressive initiative. Their insightful targeting of two key growth sectors will prove to be a wise strategic move.”
