TMA Club has added Monmouthshire Building Society to its lender panel as the mutual makes a measured return to the broker market.
The agreement gives TMA’s directly authorised partners access to the Newport-based society’s residential, buy-to-let and commercial mortgage ranges.
Monmouthshire paused lending last year while it developed a new loan origination platform intended to make applications and approvals quicker and simpler.
It is initially working with a small group of distributors, including TMA, before a wider launch later this year.
The society lends across England and Wales, offering mortgages up to 95% loan-to-value and lending to borrowers aged up to 85.
Its affordability criteria allow lending of up to 5.5 times income. The society also accepts 100% of overtime, shift allowances and commission in its calculations.
Alongside its residential range, Monmouthshire offers personal and limited company buy-to-let loans, commercial mortgages and holiday let products.
TMA, part of LSL Property Services, is a UK mortgage club.
Robert McCoy, senior product and business manager at TMA, said: “Adding Monmouthshire to our panel gives our DA brokers access to a genuinely flexible lender at a time when more and more clients don’t fit the standard mould.
“Its manual underwriting, higher age limits and generous approach to affordability make it a strong option for the complex cases advisers are increasingly seeing, from later-life borrowers to the self-employed and those with variable income.
“We’re pleased to be working with Monmouthshire and we’re sure its ranges will be popular with our brokers.”
Caroline Mitchell, mortgage distribution manager at Monmouthshire Building Society, said: “We’re delighted to be working with TMA as we return to the broker market. TMA’s reputation and reach made them a natural partner to support this next stage of our journey.
“Having invested in new technology to make things simpler and quicker for brokers, we’re being deliberately measured in how we reintroduce our proposition, working with a select group of distributors before we open up more widely.
“We are looking forward to building on our already excellent relationship with TMA now our products are available to its DA broker partners.”
