The NMS panel will include Mortgages Plc, GMAC-RFC, Preferred, SPML, Platform, Kensington Mortgages and BM Solutions.
Openwork has close links to Newcastle Building Society through Newcastle Financial Services Limited, which sells the Openwork product range to NBS customers. This new appointment builds on that relationship and will see Openwork partners gain access to the NMS online decision-in-principle facility and case tracking service.
The decision to add Newcastle Mortgage Services was taken following a review of the market and in recognition of the importance of offering the Openwork partners greater choice. This acknowledgement has already led to the appointment of GMAC Residential Funding and Kensington as direct lenders onto the panel.
Paul Shearman, mortgage proposition director said: “I am delighted to have NMS joining the Openwork mortgage panel. At a group level the relationship with Newcastle Building Society is extremely strong and this agreement will strengthen it further. NMS has invested heavily in technology and established an excellent reputation for high quality, efficient business processing and for delivering high levels of service. It also brings the brand and stature associated with one of the UK's leading building societies to the sub-prime market.
“The market for sub-prime and non-conforming lending is growing in size, importance and sophistication. Appointing NMS will help ensure the Openwork advisers are strongly placed to respond to these changes and deliver better deals and service to their clients.”
