Commercial First has become the first commercial lender to agree a formal strategic relationship with The Business Mortgage Company.
Under the terms of the working arrangement both parties have agreed to establish service level agreements and to work closely on joint marketing and distribution strategies. Commercial First will be committing underwriting resources, while TBMC has agreed to work together on product development and origination plans.
TBMC is developing a limited panel of strategic lending partners in order to maximise the benefits of the working relationship, and to complement its strategy of delivering the leading commercial mortgage offering to mortgage brokers and independent financial advisors.
Stephen Johnson, sales and marketing director at Commercial First, says: “We are delighted to be making a formal commitment and working in close partnership with TBMC.
“It has an excellent proposition for the large mortgage distributors, and it comes at a welcome time when it is important for intermediaries to maximise their earning potential”.
Andy Young, managing director at TBMC, adds: “We are very serious about becoming the number one provider of a commercial mortgage solution to the IFA and mortgage networks. This is the first formal relationship established, but others will follow.”