The total number of lenders is now 51. Club lenders now account for over 95% of the mortgage lending market.
The Progressive is Northern Ireland's largest independent financial institution, and with assets of over £1 billion it is one of the top 20 UK Building Societies.
Whilst they only lend on properties in the Province, any UK mortgage intermediary with a customer buying or re-mortgaging there is able to access their services.
Alan Collinson, m2-mortgage club national sales manager, commented: "No mortgage club or network can claim to be truly serving the broker community in Northern Ireland without first giving access to the largest building society in the Province. In welcoming the Progressive on to our panel, we're making their products available not only to those who use m2-mortgage club, but also those who have joined m2i or the HomeLoan Partnership network."
He continued: "The Progressive are real experts in their marketplace. We've taken great care to ensure that local lenders are on our panel, not only because many borrowers show great loyalty towards them, but because their flexible approach to parochial issues is of great value to club users. With the recent appointment of the Dunfermline Building Society in Scotland, the Principality in Wales and now the Progressive in Northern Ireland, we're confident that we will be providing true "whole of market" choice come Mortgage Day."
Sidney Towe, head of operations at Progressive, commented: "We are delighted to be joining m2-mortgage club. This will allow intermediaries in Northern Ireland to access our extensive product range and personal relationships with our branch managers whilst enjoying the benefits of the m2-mortgage club."
Brokers using m2-mortgage club will receive an enhanced procuration fee of 0.27% (min £150, max £1500) on advances over £50,000.
