Tandem Bank enters residential purchase market

Tandem Bank has introduced its first residential purchase proposition following the launch of its remortgage proposition in December last year.

Tandem's specialist mortgage product offers a rate reduction of up to 0.30% for new customers whose home has an energy efficiency (EPC) rating of A, B or C.

Through its network of intermediaries, Tandem offers residential mortgages for loans up to £750,000 and bespoke mortgages from £500,000 to £5m. Loans above £5m can be considered on a case by case basis.

Steve Beard, managing director of mortgages at Tandem, said: “We’ve listened to our intermediary partners and, following positive feedback, we are pleased to be able to launch our residential mortgage purchase product range earlier than expected. We’re looking forward to delivering Tandem’s effective and quality service to intermediaries and their clients.

"With the purchase products, we’ve kept the same easy to use process. Intermediaries can submit a client’s DIP request through our portal and decision engine and receive a copy of the applicant’s / lender’s credit file once the ESIS has been produced. This gives the adviser all the necessary information to make a correct recommendation to their client.

“It’s worth remembering that as a deposit funded lender with strong savings products, Tandem Bank is able to offer product transfers, further advances and porting to existing customers.”