Andrew Ferguson, managing director of Buy to Let at West One, says the launch of a mortgage club is a hugely important step for the business. Ferguson was speaking after Dynamo for Intermediaries was unveiled to help fulfil the firm's high aspirations for growth in 2021.
Supplementing its master broker channel and making its offering more accessible to mortgage brokers, the move is a big step in the specialist lender’s strategy to expand by opening its proposition to networks and mortgage clubs.
Ferguson believes that extending distribution through mortgage clubs and networks will support that strategy. He said:
“Dynamo for Intermediaries already works with us on a packager basis and so extending our partnership to include a club route allows us to work even more closely, and ensures brokers have choice on the most appropriate submission route for their needs. Next year we want to ensure our Specialist BTL proposition becomes a go-to option for an increasing number of brokers. It will appeal to brokers who need a flexible and pragmatic approach from a lender with and a deep understanding of the property market. We look forward to working with Ying Tan, his team and Dynamo’s members going forward into a successful 2021.”
The launch with Dynamo for Intermediaries comes after a company-wide brand refresh, which included a redesign of the website to provide transparency for intermediaries and their clients "about West One’s services, product eligibility and available rates".
The business feels the partnership with Dynamo for Intermediaries will provide greater choice in the market as more intermediaries will now have direct access to West One’s Buy to Let product range, at a time when, it says, "the lender has identified significant specialist growth opportunities for the sector".
Meanwhile, Ying Tan, managing director of Dynamo for Intermediaries, has spoken of his delight at the partnership. He said:
“West One has a strong BTL proposition and demand for its offering has been increasing, so the addition of the club route is extremely welcome. We’re delighted that Dynamo for Intermediaries is the first partner to be able to offer both the packaged and direct submission option. We look forward to working with Andrew and his team in developing this channel and bringing West One’s proposition to life with our mortgage club members.”