Cambridge BS plans to increase intermediary lending
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Cambridge Building Society has unveiled plans to increase its mortgage lending this year as part of a relaunch that includes the introduction of an online system for intermediaries.
Named Cambridge Mortgage Master, the system will allow brokers in East Anglia to register, submit and complete approvals in principle and full applications, receive immediate lending decisions and obtain product information free of charge.
The Cambridge says it is keen to lend more than £200m this year, compared to gross lending of £128m in 2010, and has been gearing up for increased business volumes.
It says it did 60% of its mortgage lending via intermediaries in 2010, and sees the vast majority of the expected increase in lending coming from intermediaries.
The Cambridge says it believes the new online system and an expansion of its business development management team will help it achieve these growth objectives.
Mark Smitheringdale, head of sales and marketing at the Cambridge, says: “This is our year for change and mortgage growth. We are serious about our commitment to mortgage intermediaries and we aim to work very closely with our key partners, offering tailored underwriting, market leading service and competitive mortgage products.
“The Cambridge Mortgage Master has been developed with intermediaries, for intermediaries. The rebrand and change of focus represents an exciting time for customers of the Cambridge and staff alike.”
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