JLM Mortgage Services has added OakNorth, a bank for entrepreneurs, to its lender panel.
Members of the firm will now have access to OakNorth’s residential mortgage products.
The lender’s applicants are high-net worth individuals, SME business owners and clients with atypical income streams, according to the firm.
JLM Mortgage Services head of mortgage finance Sebastian Murphy comments: “We are pleased to see another challenger bank entering the fray and providing our adviser member firms with alternatives.
“We are the first network to add this exciting new lender to panel and it gives our ARs even greater options for their high-net worth clients.
“OakNorth is in an ideal position to assist these types of clients because they have already been lending to them commercially and they understand both them and the risk they represent.”
OakNorth associate director Kevin Appleton says: “Our presence on the JLM Mortgage lender panel will no doubt help us achieve our aim of capturing up to 5 per cent to 10 per cent of the under-served residential mortgage market by year-end.
“Lenders are typically unwilling to offer bespoke terms to their mortgage products and, as a result, more than one in ten business owners in the UK are unable to access the finance they need to purchase their first home.”