TBMC direct service is popular

The Business Mortgage Company has signed up over 2,000 directly authorised brokers and five networks to its direct-to-lender proposition since it launched it in February.

The direct-to-lender proposition allows brokers free access to its online buy-to-let mortgage sourcing and quotation system and incorporates both non-packaged products that are processed directly by the lender, as well as traditional packaged products.

Andy Young, chief executive officer of TBMC, says: “Our new service has been well received by our DA introducers who have been given automatic access to the additional buy-to-let product range.

“Our statistics for the first month indicate that one in five quotes produced by DA firms on our sourcing and quotation system are for the direct-to-lender products.”

Paul Shearman, mortgage proposition director at Openwork, says: “Recent financial conditions have resulted in a drastically reduced buy-to-let mortgage market and TBMC’s expanded lender panel will provide more choice.”