MPowered Mortgages has partnered with Alexander Hall, LDNfinance and SPF Private Clients all of which will now be able to offer MPowered Mortgages’ prime residential mortgages to their customers.
The customers of Alexander Hall, LDNfinance and SPF Private Clients, who can already access MPowered Mortgages specialist buy-to-let range, will now also have access to the lender’s suite of prime residential products which includes 2-, 5-, 7- and 10-year fixed rate mortgages and its recently launched £500 cashback range.
Customers will benefit from a free valuation on every application, and a choice of no arrangement fee, as well as cashback options, designed to ease the financial pressure of buying a home at a time when the cost of living continues to increase at pace. Rates currently start from 3.17%.
Over the past year, MPowered Mortgages has grown its network of established broker partners to circa 5,000 in total, which also includes Mortgage Advice Bureau and London and Country.
It has received investment backing from Barclays, Citigroup’s SPRINT arm and M&G Investments amongst other key investors, and celebrated its first birthday in April this year.
The mortgage lender has also doubled its workforce in the past year and opened a new office in Leeds as it continues to enhance its platform and offering for both brokers and their customers.
Emma Hollingworth (pictured), distribution director, MPowered Mortgages, said: “We are delighted to be teaming up with Alexander Hall, LDNfinance and SPF Private Clients which not only demonstrates our commitment to growing our presence in the prime residential mortgage market, but also enables our prime range and mortgage platform to be accessible to as many homeowners as possible.
“At MPowered Mortgages, we remain dedicated to revolutionising the mortgage process for brokers and customers alike.”
Gareth Lowman, director, SPF Private Clients, added: “We are delighted to be able to offer MPowered Mortgages’ residential range to our customers.
“Through this partnership, not only will we be able to offer our customers more choice, but also a faster application process and a smoother mortgage journey overall by using MPowered’s AI-driven platform.”
Stephanie Daley, technical advisor, Alexander Hall, said: “As the cost of living continues to increase, now more than ever, homebuyers and their brokers are looking for more innovation and support from lenders.
“We’re looking forward to working with MPowered Mortgages, and are confident that their range of products and use of tech will enhance our ability to provide buyers with solutions beyond the big six banks that best cater to their specific needs and allow for quicker processing times.”
Greg Cunnington, chief operating officer, LDNfinance, concluded: “We’re delighted to be able to provide our customers with access to MPowered Mortgages’ forward-thinking mortgage platform which uses AI and data science to speed up the process of getting a mortgage.
“The mortgage industry has been notoriously slow to adopt technological solutions, and with brokers now facing more pressure than ever to secure mortgages, it’s more important than ever that lenders follow MPowered Mortgages’ lead to utilise technology to streamline the homebuying process.
“We look forward to working with MPowered Mortgages’ as we as an industry continue to drive towards a smoother road to homeownership.”
