MCI adds Newcastle Intermediaries to lender panel
31 March 2021
Newcastle Intermediaries has joined MCI Club’s growing lender panel offering even more choice to the club’s members.
As the intermediary arm of Newcastle Building Society, Newcastle Intermediaries offers a range of residential and buy-to-let products and will lend across England, Scotland and Wales. Products include LTVs up to 85%, Joint Mortgage Sole Proprietor as well as self and custom build.
Newcastle Intermediaries has developed an online product transfer tool for brokers to transfer their customers to a new deal and can earn a procuration fee of 0.2 per cent. Registered brokers can easily switch their customer’s rate up to three months prior to the maturity of their existing deal, with no early repayment charge.
Melanie Spencer, Head of MCI Mortgage Club, commented: “Newcastle Intermediaries is a very welcome addition to our club and we look forward to working with the team. It offers good products for our club members to access that include free valuations on properties up to £500,000.
“All our members can choose a flexible package with us that can be tailored to each firm. This includes our new member payment and processing option of a single monthly fee coupled with rebates for writing business. The package comes with a choice of technology such as a free but optional CRM system from eKeeper with various integrations like AML and credit reports from Experian.”
John Truswell, head of intermediary mortgages and head of the Business Development team at Newcastle Building Society, said: “We’re committed to the continued growth of our distribution footprint within the intermediary channel so we’re delighted to join MCI Mortgage club’s lending panel.
“MCI Club offers members unique benefits and we know they have a loyal base of firms and brokers that we’re really looking forward to working with.
“We’re proud to offer a range of products to suit a variety of customer needs and know brokers will appreciate Newcastle Building Society’s bespoke manual underwriting service and our ability to assess customer’s complex needs on an individual basis.”
