As Mortgage Solutions exclusively reported last week, Metro Bank had been in discussions with a number of broker firms and networks about expanding its distribution.
It has now been revealed that the lender will offer products to L&G’s appointed representative network and directly authorised brokers. This marks the first partnership with a network for the fledgling bank.
Martyn Smith, head of mortgage products at Legal & General Network, said: “It’s great that Legal & General Mortgage Club is the first network to partner with Metro Bank for the distribution of its excellent range of mortgage products.
“Metro Bank has been innovative when it comes to banking with personal service and individual case underwriting at the heart of what it does.
“We are excited to be part of their growth plans for 2013 and look forward to working closely with them for the benefit of our members and their customers, especially as this year looks set to be an exciting one for the housing market.”
Richard Saulet, commercial director at Metro Bank, added: “It was a natural step to partner with the Legal & General Mortgage Club, as we know they share Metro Bank’s commitment to amazing customer service.
“We’re dedicated to building a long term and highly successful intermediary partnership, focused on providing brokers and their customers products designed entirely around their needs, as well as amazing service.
“We offer common sense banking with the personal touch and our individual underwriting service means that we can work on a case by case basis with brokers. We’re revolutionising the high street banking landscape, and with L&G’s help, we look forward to revolutionising the intermediary market too.”
Metro Bank has offered products through intermediary firm John Charcol since last summer and has also struck individual deals with a number of other broker firms, including Springtide Capital and Coreco.