Club lenders now account for over 90% of the volume mortgage lending market.
Established in 1869, Dunfermline Building Society is Scotland's largest building society. With a broad-based knowledge of the Scottish housing market, it has particular emphasis on remortgages and mortgage loans up to 90% LTV.
Alan Collinson, m2-mortgage club national sales manager, commented: "As business volumes from brokers in Scotland have risen rapidly in the last year, I have quite rightly come under increasing pressure to appoint Dunfermline to the panel. I'm delighted to succumb to these requests. Dunfermline is a key appointment, and brings a new dimension to the m2-mortgage club offering. "
"With the addition of Dunfermline we now have one of the largest panels available for direct-to-lender business. This means that brokers and their clients have a truly comprehensive choice across all market sectors. As a no-cost, no-registration club with simple submission procedures, prompt fee payment and exclusive access to the Mortgage Trading Exchange via the M2000 Encore Sourcing System, we were already an attractive option to brokers. Growing the panel to 45 lenders just makes us even more so."
Harry McGeough, Senior Manager Key Accounts, Dunfermline Building Society said: "We know that the strong working relationship we have with Mortgage 2000 will enable its members to gain maximum benefit from working with Dunfermline Building Society. There is a huge opportunity in the market which we are keen to pursue through the combination of our product range and the strong distribution channel which Mortgage 2000 provides. We are an ambitious lender which believes that its intermediary business is key to the Society's overall lending portfolio."
M2-mortgage club will be paying brokers a procuration fee of 0.32% (min £125) on all cases.
The club is available to any MCCB registered intermediary. All intermediaries need do is simply attach a submission form to the mortgage application. No registration is required. Everything about the club can be found by visiting www.mortgage2000.co.uk, or by contacting the m2-mortgage club team on 0845 345 5710.
