The Money Group has announced the launch of its mortgage club, TMG Club.
The initial launch is a soft one, with two more phases planned for 2021. This will see an opening up of distribution and the incorporation of further lending options, such as bridging and commercial finance.
The club will feature a function called ‘Place my case’’. This allows members to upload details of cases that are difficult to place in order for all lenders part of the club to review.
TMG Club managing director Paul Lewis says: “It is great to finally get to the stage where we formally launch the club. I want to take this opportunity to thank all our founding partners who have backed us and who have seen the positive of what we are looking to deliver.
“We hope to reward the commitment from the lenders by delivering a mortgage club that will be collaborative and proactive. This should see increased levels of business for both sides of the equation which only goes to serve the most important person in all this – the client.
And TMG chief executive Martin Steward adds: “I want to publicly congratulate the team in being able to deliver this project three months ahead of schedule, and also all our lender and broker partners for their input, which ultimate lead to the decision to invest in a platform for not only Place my case but a forum for all members to be able to communicate and help each other thrive.”
Meanwhile, Vernon Building Society has been confirmed as the first lender to partner with TMG Club.
The lender offers mainstream products as well as buy-to-let, retirement interest-only and Buy for Uni mortgages.
Vernon head of mortgage distribution Brendan Crowshaw says: “Vernon is a small but innovative mortgage lender with a common-sense, flexible approach to underwriting and a commitment to brokers.
“TMG Club is an exciting addition to the intermediary mortgage market and it’s obvious the leadership team are passionate about bringing positive change to brokers. We can’t wait to help its members find specialist and mainstream solutions for their clients.”
