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MPowered launches broker partnerships to boost residential market foothold

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  • 13/07/2022
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MPowered Mortgages is looking to increase its foothold in the prime residential market through partnerships with broker firms including Alexander Hall, LDNfinance and SPF Private Clients.

All three firms will now be able to offer MPowered Mortgages’ prime residential mortgages to their customers.

MPowered Mortgages is a fintech mortgage lender which uses artificial intelligence (AI) to enhance the mortgage journey for homebuyers and remortgagers.

Clients of Alexander Hall, LDNfinance and SPF Private Clients can already access MPowered Mortgages’ specialist buy-to-let range.

The new partnership means they will also have access to the lender’s suite of prime residential products which includes two, five, seven and 10-year fixed rate mortgages as well as its recently launched £500 cash back range.

Customers will also get a free valuation on every application, and a choice of no arrangement fee, as well as cash back options with rates starting from 3.17 per cent

MPowered Mortgages said it was committed to expanding its reach in the prime residential market by broadening access to its platform.

In the last 12 months MPowered, has expanded its number of broker partners to over 5,000 including Mortgage Advice Bureau and London and Country.

The lender has received investment backing from Barclays, Citigroup’s SPRINT arm and M&G Investments. It also celebrated its first birthday in April this year and opened a new office in Leeds.

Emma Hollingworth (pictured), distribution director at MPowered Mortgages, said: “We are delighted to be teaming up with Alexander Hall, LDNfinance and SPF Private Clients which not only demonstrates our commitment to growing our presence in the prime residential mortgage market, but also enables our prime range and mortgage platform to be accessible to as many homeowners as possible. At MPowered Mortgages, we remain dedicated to revolutionising the mortgage process for brokers and customers alike.”

 

Mortgage innovation and support

Gareth Lowman, director at SPF Private Clients, said: “Through this partnership, not only will we be able to offer our customers more choice, but also a faster application process and a smoother mortgage journey overall by using MPowered’s AI-driven platform.”

Stephanie Daley, technical adviser at Alexander Hall said as the cost of living continues to increase, homebuyers and their brokers were looking for more innovation and support from lenders. She said: “We’re looking forward to working with MPowered Mortgages, and are confident that their range of products and use of tech will enhance our ability to provide buyers with solutions beyond the big six banks that best cater to their specific needs and allow for quicker processing times.

Greg Cunnington, chief operating officer at LDNfinance, added: We’re delighted to be able to provide our customers with access to MPowered Mortgages’ forward-thinking mortgage platform which uses AI and data science to speed up the process of getting a mortgage. The mortgage industry has been notoriously slow to adopt technological solutions, and with brokers now facing more pressure than ever to secure mortgages, it’s more important than ever that lenders follow MPowered Mortgages’ lead to utilise technology to streamline the homebuying process. We look forward to working with MPowered Mortgages’ as we as an industry continue to drive towards a smoother road to homeownership.”

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