The lender plans to roll out distribution fully by the end of 2016 and is offering brokers a procuration fee of 0.5% on buy-to-let deals.
David Finlay, distribution director, at New Street parent Northview Group, said: “Nouveau has a strong proposition, encompassing firms that maintain a commitment to a high standard of risk and compliance controls. We are pleased to have aligned with the Club’s strong and influential position in the market and look forward to delivering our modern, digital approach to lending to a growing number of intermediaries.”
Jeremy Duncombe, director, Legal & General Mortgage Club said: “This partnership serves to strengthen Legal & General’s position in the intermediary lending market as a trusted, go-to distribution partner. It’s ethos of empowering brokers aligns with our approach, and the partnership will aid us in continuing to provide a broad range of products through our partners to borrowers across the market.”