The initiative aims to make Vernon’s remortgage proposition more competitive and remove solicitor fees, which can range from £300 to £700.
Retirement interest-only products saw the highest demand as the Society responded to changing customer needs.
The new platform, powered by FintechOS 8, will sit above the society’s existing core systems and cover the entire mortgage process.
Louise Thorpe will lead all customer-facing functions, including mortgage and savings distribution, product, proposition, marketing, and customer services.
Sabbaghe will work in the field to help Vernon grow its broker network beyond the North West and into the South.
The mutual grew its mortgage book by 4.6% to £439.5m and brought in £28m in new savings, increasing retail savings balances by 6.2% to £474.9m.
Sitting between prime and impaired credit, the products aim to offer a pragmatic option for complex cases.
The professional mortgage products are open to qualified professionals such as doctors, solicitors, teachers, engineers, accountants, and other regulated roles.
The reductions cover a range of specialist lending segments, such as JBSP, professional, complex prime, standard and specialist BTL, expat BTL and holiday BTL.
Darren Ditchburn, CEO at Vernon Building Society, speaks about his first year at the helm and the evolving landscape of the mortgage market.
The new 2-year discount product is set at 5.29%, a 2.31% reduction from the standard variable rate (SVR) of 7.60%.
The products are a 2-year fixed rate at 4.75% until 31st January 2028 with a £999 fee, and a 5-year fixed rate at 4.89% until 31st January 2031 with a £999 fee.