Ipswich Building Society is extending access to its product range to all SimplyBiz Mortgage members, with immediate effect.
This widens the society’s position within the directly authorised market, as traditionally its product range was only available to advisers within certain counties in or near its East Anglia heartland.
Martin Reynolds, chief executive of SimplyBiz Mortgages, said:“We continue to work very hard with our members on training and education as well as the compliance support we provide and know that these were some of the key aspects that Ipswich was looking for.
“Having created a bespoke programme to allow our members to work successfully with Ipswich, I am confident that this will be a very popular range of products.”
The lender, which is set to launch next month, will target the self employed, people with complex incomes and those who require lending into retirement.
Billion pound backing for the mortgages comes from an un-named quoted fund, using a similar structure to how Fleet Mortgages was set up, according to Mr Pothecary.
Other mortgage club product partners are Paradigm Mortgage Services, The Mortgage Alliance, 3MC and Residential Home Loans.