Suffolk Building Society has entered into a partnership with Mortgage Broker Tools.
The UK-wide members of Mortgage Broker Tools, which is an intermediary research platform, will be able to access Suffolk Building Society’s full product range with immediate effect.
Mortgage Broker Tools was launched in 2019 with the goal of supporting brokers when identifying the most suitable lending options based on affordability, product rates, credit status and criteria.
Recently, the platform hit 2.5 million affordability searches – fewer than two years after achieving one million.
The partnership with Suffolk Building Society and its manual underwriting approach means brokers will have more choice when it comes to complex and specialist cases.
Tanya Toumadj, CEO of Mortgage Broker Tools, said: “It’s fantastic to have Suffolk Building Society on board.
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“Our goal is to provide brokers and their borrowers with as many options as possible, and the addition of Suffolk Building Society to our lender panel is especially helpful for brokers working on cases that fall slightly outside of standard residential borrowing, including lending into retirement, joint borrower sole proprietor, holiday let, self-build and expat.”
Charlotte Grimshaw (pictured), head of intermediaries at Suffolk Building Society, said: “Mortgage Broker Tools has seen really impressive growth in recent months, so we’re particularly excited to be joining the platform. Broadening the reach of our niche, award-winning proposition to as many brokers as possible is always top of our agenda.
“Many brokers who use us will already have access to MBT either independently or via their firm/network/club, so ensuring that we’re present will help brokers see our proposition and feel confident in meeting their clients’ needs. It feels like the next step after building on the work we’ve already done with MBT, helping brokers disclose customer vulnerabilities to lenders.”
Last month, the firm lowered interest-only residential deals and introduced a 90% loan-to-value (LTV) discount product.
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