Tandem launches first charge remortgage range

Tandem Bank is launching its first comprehensive, broker-based first charge product range next week for remortgages and unencumbered property.

With Roger Morris now at the helm as director of sales and distribution, Tandem’s mortgage division is delivering a streamlined process.

For pre-offer Tandem will provide:

• A fair notice period for all interest rate and product withdrawals,
• A fair view credit assessment, assessing an applicant’s credit file based on 22 months rather than the industry average of 60 months,
• Fixed rates booked at the time of an accepted AIP, prior to submitting a full application,
• AVMs (or free valuation up to £750,000),
• Free lender-only legals through an inhouse service,
• No interest or charges added to broker or completion fees when the borrower requests they are added to the mortgage.

For post completion, Tandem will offer product transfers, portable products, and a fully online process through its specialist mortgage portal.

Steve Beard, managing director of Tandem’s mortgage division, said: “Tandem is challenging the status quo having reimagined and reworked the application to offer process by introducing time saving initiatives that are guaranteed to compress the time it takes to go from DIP to offer and completion. Richard Angell, our head of sales and national accounts, has worked tirelessly with the team over the past twelve months to rewrite the way remortgages are conducted to speed up the process and to provide real value for customers. Thanks to their hard work, Tandem Bank is able to offer brokers a revolutionary service.”

Richard Angell, head of sales and national accounts, added: “Tandem is setting its stall out to be the specialist lender for remortgages and next week, we will be launching our first comprehensive first charge remortgage product range featuring all of the above features through some of the best clubs, networks and large brokers in the UK. There will be more to follow soon. Industry figures we have reached out to have all confirmed that our process is going to revolutionise how customers and their advisers are treated and how quickly they can complete their mortgages. Watch this space. Things are about to get exciting!”