Lisa Martin, development director, said: “Penrith Building Society brings a raft of lending possibilities to the club that include lending based on affordability as a result of their expertise in manual underwriting, as well as elements such as mortgage terms of up to 40 years with no maximum age. The Penrith has huge experience and expertise in lending on second properties as well as holiday lets and ex-pat holiday/buy-to-let (BTL) lending.
“We are thrilled to have the Penrith on board, who bring an additional dimension to our lending panel. As we move forward, we look forward to developing some exciting propositions with them to meet the needs of our members and their borrowers.”
Tim Vigeon (pictured), head of product development and distribution at Penrith Building Society, said: “We are delighted to have taken this step with TMA, whose business, ethos and aspirations are entirely in keeping with our own. We hope to become a key business partner over the coming months and work together on new products and propositions for next year.”
On 8 January, Penrith Building Society temporarily removed the application fee payable on its mortgages for all residential and BTL deals.
This applies on all deals for new and existing customers until 31 March.
In November last year, Tim Vigeon joined the mutual as its head of product distribution and development, as exclusively reported by Mortgage Solutions.
Vigeon was most recently associate business development manager (BDM) for nearly two years at Darlington Intermediaries, and worked at Buckinghamshire Building Society, the Ombudsman and Nationwide in previous roles.
