Stonebridge becomes first partner of L&G Mortgage Club to gain direct access to Tandem Bank

Mortgage and insurance network, Stonebridge has today announced that it has become the first partner of L&G Mortgage Club to gain direct access to Tandem Bank, adding it to its lender panel.

Protection Reporter
10th February 2023
"We’re looking forward to providing Stonebridge firms with this direct access, developing this relationship and to seeing where Tandem move next in terms of its overall proposition."
- Jo Carrasco, Stonebridge business partnerships director

Prior to this partnership, Stonebridge AR firms had access to Tandem’s residential remortgage range via approved packagers, but now its member firms will be able to directly access both the remortgage range and Tandem’s residential purchase product range which launched earlier this month.

Tandem Bank provides a fair view credit assessment which means it only assesses the client’s most recent 22 months’ credit history for product terms; CCJs/defaults under £750 do not affect the product tier; a maximum LTV of 90% (including debt consolidation); Day 1 discharged from bankruptcy/IVA are accepted at up to 85% LTV; and the use of latest years’ figures for self-employed customers, potentially including retained profits for limited company directors.

The Bank also offers no upfront booking fees, free lender-only legals, and free valuations up to £700k for remortgage business. It lends on properties in England and Wales.

Commenting on this partnership, Jo Carrasco, Stonebridge business partnerships director, has said:

“Tandem Bank are making significant waves in the mortgage sector already, and with the recent addition of a new residential purchase range, to accompany its remortgage offering, we believe Stonebridge firms will find much to interest them and their clients.

“This is a Bank very focused on the intermediary market with a considerable amount of experience and talent within its ranks that are immersed in our sector and are clearly listening to what is required.”

Roger Morris, Tandem Bank, director of mortgage sales and distribution, mortgage division, added:

“We are so pleased to have been appointed to Stonebridge’s lender panel and we have had such incredible feedback from their ARs requesting our addition to the panel as soon as possible, making reference to how we have reimagined the remortgage process.

“Working with Jo Carrasco and the team has been amazing. Their focus on education and how their lenders add real value is central to everything they do and helps make them the effective network they have become.”

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