Mortgages plc has added another branded lender relationship to its stable.
Hampshire-based packager, BDS Mortgage Desk, is offering the complete range of Mortgages plc products and, as part of its agreement with Mortgages plc, will receive an on-site underwriter and on-site offer and completion facilities from the lender.
Mortgages plc took the decision to diversify its distribution channels by outsourcing servicing a year ago, to give partners an extra service proposition as a way of locking in distribution.
Peter Beaumont, sales and marketing director at Mortgages plc, said: ‘We are trying to pick people who we believe are volume introducers to the market and have the foresight to diversify, which has worked well. This is our sixth or seventh branded lender relationship, and there are another three we are working on at the moment. These are likely to come through in the next month or so.’
Phil Jay, operations director of BDS Mortgage Desk, said: ‘BDS has always been keen to use lenders who are prepared to offer them in-house underwriters. It is important to us to have as much control over the processing of applications as possible, and with the Mortgages plc agreement we are able to control every aspect of processing, underwriting and completion.’
He added: ‘We believe this has got to be the way forward for the serious mortgage packager.’