The addition of First Mortgages Direct Limited, AFP Partnership and Springtide Capital brings the total number of firms to seven.
Nouveau has been launched in anticipation of tightening rules under Mortgage Market Review and stricter lender requirements. All firms are directly authorised and sign up to strict criteria.
Legal & General Mortgage Club managing director Ben Thompson (pictured) said: “It is clear that lenders increasingly want top quality, low risk and loyal mortgage relationships of scale and that is exactly what Nouveau member firms bring. Aggregating volume is one thing but delivering lending to order in terms of quality is another.
“Much of this sector is now coming to terms with and seeing what this flight to quality all means and we continue to work closely with lenders to ensure we strive towards being the best as well as the biggest. Ultimately, it is these member firms that make this happen and we are really pleased with the joint progress we have made so far.”
The club currently holds a 27% share of the intermediated mortgage lending market, making it the number one mortgage club in the UK.
