Packager Next Generation Mortgages (NGM) has launched a specialist lending arm, to cater for the secured loan and commercial mortgage markets through its network of 1,500 intermediaries.
Lender Commercial First will fund the company’s range of commercial mortgages, while second charge products will be provided by Swift Advances, igroup and First National Bank.
Terry Markham, managing director of NGM, said that in the present market intermediaries needed to be able to access the full suite of specialist financial products in order to keep in step with the demands and requirements of their clients.
He said: ‘Our commitment to them is absolute ‘ that is why we have launched our new secured loan and commercial mortgage operation. We have got good products to offer our intermediary partners and I am confident that we can achieve a lot together in the coming months.’
In a push for market share, NGM is also offering intermediaries an additional £250 on completed remortgage cases. Markham admitted that it was a short term ploy to attract volume business, but added: ‘I am confident that once a broker has dealt with us once they will want to come back for more.’