TMA Mortgage Club has added Penrith Building Society to its lending panel.

The mutual offers a diverse range of variable rate mortgage product, many of which provide an initial discount off the Pernith’s standard variable rate.

This range offers solutions for purchasers, those looking to remortgage and those looking to finance a buy-to-let property.

Lisa Martin (pictured), TMA’s development director, said: “Penrith Building Society bring 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 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 proposition with them to meet the need of our member and their borrowers.”

Tim Vigeon, head of product development and distribution at the Penrith, added: “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.”