Preferred Mortgages is to offer products to other lenders through its Preferred Partnership Lending initiative.
Working on a branded lending basis, Preferred now has deals with seven companies including Mortgage 2000 and Trafalgar Home Loans. Partners will be able to brand the products as their own and be given delegated authority to design products as well.
John Webster, business development director at Preferred, said: “We will agree the parameters of a lending facility with the partner who can then manufacture their individual products. We will then work to ensure the aggregate characteristics of their lending meet the agreed terms. This allows them to design products on the spot without having to refer to us for exclusives or exceptions.”