It expands the range of lending options available to its directly authorised broker network with the partnership
finova Payment and Mortgage Services has announced a partnership with specialist mortgage packager Manor Mortgages, expanding the range of lending options available to its directly authorised broker network.
The partnership will help finova’s brokers place and process complex cases as Manor Mortgages manages these mortgage applications on their behalf, sourcing and submitting these to specialist lenders.
Manor Mortgages offers three core tiers of service which finova Payment and Mortgage Services members now have access to:
- Tier One: Refer a client – in busy periods, brokers can transfer cases to Manor Mortgages who will liaise with the customer directly, offering research, placement, and advice.
- Tier Two: Research, placement, and processing – if a broker is struggling to find a lender and product for a customer with difficult circumstances, they can subcontract the case to Manor Mortgages to manage.
- Tier Three: Outsourced processing – if a case meets the criteria of the chosen lender, for no additional customer costs and the same procuration fee as going direct, brokers can outsource process to Manor Mortgages.
“Partnering with Manor Mortgages provides our brokers with the additional support they need, whether it be for a particularly tricky case or if they are simply short on time and in need of an extra pair of hands,” Melanie Spencer (pictured), head of finova Payment and Mortgage Services, commented.
“Alongside access to a wide range of specialist lenders, we’re delighted to offer our brokers this additional layer of support, ensuring they can deliver high-quality specialist advice to the end borrower. Spiking interest rates, coupled with the cost-of-living crisis, have pushed caseloads to record levels, and brokers need all the support they can get – especially with a potential house price crash on the horizon.”
Dave Stephenson, managing director at Manor Mortgages, said they were excited to launch the partnership with finova to help its large network of directly authorised brokers place cases with the right lender.
“In the current climate, having the support of an experienced packager, like ourselves, will be invaluable to brokers who need to place complex cases away from the high street,” he added. “What’s more, our three tiers of service mean we have flexible options to suit every broker’s needs.”
Manor Mortgages is an approved packager for a number of specialist lenders, including Precise Mortgages, Pepper Money, Family Building Society, and Fleet Mortgages.