The Cambridge Building Society is partnering with Legal & General Mortgage Club to offer its buy-to-let range of mortgages to landlords across England and Wales.
Alongside intermediaries who belong to the Legal & General Mortgage Club, the Cambridge will also accept cases from borrowers coming directly, via its eight-strong team of mortgage advisers who will conduct interviews over the telephone and Cambridge Select, its intermediary loyalty club.
Tracy Simpson, head of lending at the Cambridge said: “We’ve been investing heavily since 2015 in IT infrastructure, processes and people needed to support higher levels of lending and this announcement is all part of growing our mortgage book by capitalising on this investment.
“We’re very conscious that intermediaries and partners value a high level of service and a considered, personal approach to underwriting so by working with Legal & General Mortgage Club we know we can offer a strong proposition to more landlords whilst maintaining these standards.
“Recent improvements to our buy-to-let lending criteria and a comprehensive range of products, demonstrate we’re committed to the private rental market and helping people have a home. My business development and mortgage adviser teams are looking forward to talking to intermediaries and borrowers about any cases they may have.”
Danny Belton, head of lender relationships at Legal & General Mortgage Club, added: “This is a bold yet positive move for the Cambridge. Legal & General Mortgage Club works closely with the Cambridge in developing their proposition, and it is one that our members have requested more access to.
“It is therefore great to see that the Cambridge have been able to extend their buy-to-let proposition exclusively to more Legal & General Mortgage Club members as they seek to grow volumes in this market sector.”