- Further illustration of lender's commitment to intermediary market
- News comes as GE Money research suggests more consumers are being classed as "non-conforming"
- First National D2U range available to Countrywide's network
"We are delighted to be working with Countrywide, the largest estate agency group and mortgage broker in the UK. In a difficult market, our broad range of non-conforming products will help consultants obtain mortgages for more of their clients enabling them to buy the house they want. We also expect to provide mortgages for existing customers coming off fixed rate deals and requiring refinancing solutions."
Anthony Radford, Channel Sales Director for FND2U
GE Money Home Lending, one of the UK's leading specialist lenders today announces that it has joined Countrywide's panel of lenders. Countrywide is the UK's largest Estate Agents with over 1,100 branches. GE Money Home Lending will offer products from its First National brand's D2U range to Countrywide's network with immediate effect.
The announcement, reinforces GE Money's commitment to having a broad distribution offering in the marketplace and comes on the back of new research by the lender which reveals that more than 458,000 mortgage and loan customers have had to apply at least four times before successfully securing credit during the last 18 months.*
With the recent trend of lenders tightening their criteria and focusing more efforts on direct offerings GE's research suggests that previously creditworthy people are now potentially being classed as a higher credit risk and therefore finding it more difficult to source the deal they need.
This reinforces the fact that professional mortgage intermediaries are more important than ever when it comes to helping borrowers secure the right deal and that specialist lenders, with tailored products for non-prime borrowers, will also play an important role in helping such borrowers.
Grenville Turner, Countrywide Chief Executive said:
"Countrywide is delighted to welcome GE's First National brand to our lending panel. As the UK's largest mortgage broker we pride ourselves on being able to offer a diverse range of mortgage solutions to our customers and First National's experience in the specialist mortgage sector will compliment our current offering."
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