Tandem Bank launches into residential purchase market ahead of plan - Launch brought forward due to extensive broker demand

06 February 2023

Tandem Bank today launched its much anticipated residential purchase proposition.

The move comes earlier than expected, following the market’s positive reaction to how it has reimagined and streamlined the remortgage process.

Tandem has been working closely with intermediary partners to ensure that customers’ remortgages complete without unnecessary delays. Overseeing much of the legal work, Tandem found that by tightening up the process, it could reduce the time taken to complete the transaction. Partners have enjoyed being included more in the legal process and having increased visibility of the case.

Speaking about the residential purchase launch, Tandem’s Mortgage Division Managing Director, Steve Beard, said: “We’ve listened to our intermediary partners and, following positive feedback, we are pleased to be able to launch our residential mortgage purchase product range earlier than expected. We’re looking forward to delivering Tandem’s effective and quality service to intermediaries and their clients.

With the purchase products, we’ve kept the same easy to use process. Intermediaries can submit a client’s DIP request through our portal and decision engine and receive a copy of the applicant’s / lender’s credit file once the ESIS has been produced. This gives the adviser all the necessary information to make a correct recommendation to their client.”

Steve added, “It’s worth remembering that as a deposit funded lender with strong savings products, Tandem Bank is able to offer product transfers, further advances and porting to existing customers.”