TMA adds Monmouthshire Building Society to panel

TMA Club has added Monmouthshire Building Society to its lender panel following the lender's return to the broker market.

The move means TMA's DA partners are among a select group of brokers currently with access to Monmouthshire's residential, buy-to-let and commercial mortgage ranges.

The Newport-based lender paused its lending last year while it developed a new loans origination platform to make the application and approval process smoother and quicker. It is working with a small group of distributors, including TMA, ahead of a full launch later this year.

The society operates across England and Wales, lending up to age 85 and offering loans of up to 95% LTV.

It will also lend to 5.5 times income and accepts 100% of overtime, shift allowance and commission in its affordability calculations.

Alongside flexible residential criteria, the society offers personal and limited company buy-to-let loans, commercial mortgages and holiday lets.

Robert McCoy, senior product and business manager at TMA, commented: “Adding Monmouthshire to our panel gives our DA brokers access to a genuinely flexible lender at a time when more and more clients don't fit the standard mould. Its manual underwriting, higher age limits and generous approach to affordability make it a strong option for the complex cases advisers are increasingly seeing, from later life borrowers to the self-employed and those with variable income. We're pleased to be working with Monmouthshire and we’re sure its ranges will be popular with our brokers.”

Caroline Mitchell, mortgage distribution manager at Monmouthshire Building Society, said: “We're delighted to be working with TMA as we return to the broker market. TMA's reputation and reach made them a natural partner to support this next stage of our journey.

"Having invested in new technology to make things simpler and quicker for brokers, we're being deliberately measured in how we reintroduce our proposition, working with a select group of distributors before we open up more widely. We are looking forward to building on our already excellent relationship with TMA now our products are available to its DA broker partners.”