Vernon Building Society and Connect Mortgages Partner to Serve Complex Mortgage Needs
Mortgage lender Vernon Building Society has joined the Connect Mortgages panel, allowing intermediaries to access its mortgage products.
The Vernon Building Society, a trusted, values-driven provider with a commitment to personal service and delivering solutions for complex cases, has joined the lending panel of Connect Mortgages. This partnership enables Connect Mortgages, a well-established network of brokers with a proven record of success in the industry, to offer their clients access to Vernon's range of mortgage products.
The Vernon Building Society offers a diverse selection of mortgage options, including residential, self-build, later life, buy to let, and holiday let mortgages. This variety caters to a wide range of client needs, particularly those with more unusual circumstances. The society has a reputation for working with underserved markets and underwriting complex cases, making it an attractive partner for Connect Mortgages.
Jane Benjamin, Director of Mortgages at Connect Mortgages, stated that having the Vernon onboard will mean more clients finding the right property finance to achieve their ambitions. Brendan Crowshaw, Head of Mortgage and Savings Distribution at Vernon Building Society, echoed this sentiment, affirming the society's dedication to delivering solutions for complex cases.
The Vernon Building Society receives a number of 'off-panel' applications, as it can say 'yes' to borrowers who would otherwise find themselves excluded from mainstream lending. This flexibility is crucial for Connect Mortgages, as it allows for a greater potential for mortgage approvals.
Understanding Complex Case Underwriting
In the mortgage industry, complex cases often require a more nuanced approach to underwriting. Thorough documentation and verification, specialized appraisals and inspections, manual underwriting, affordability assessments, and flexibility and exceptions are all key aspects of this process.
While specific details about the Vernon Building Society's internal processes are not widely available, it is clear that their focus on complex case underwriting sets them apart in the market. This approach, combined with their commitment to personal service, makes them an ideal partner for Connect Mortgages.
The Future of Vernon Building Society
The Vernon Building Society is not only expanding its partnerships but also its physical presence. The society is planning to open more branches, collab spaces, or hubs, further increasing its reach and accessibility to clients. Additionally, the society is launching its first TV advertising campaign to increase visibility in Greater Manchester and Cheshire.
Older people are looking to release house equity further down the road, according to data from the Vernon Building Society, to fund a retirement lifestyle that the State pension cannot provide. This focus on later life lending underscores the society's dedication to serving the needs of its clients at every stage of life.
With the Vernon Building Society onboard, Connect Mortgages is well-positioned to help more clients secure the mortgages they need, regardless of their unique circumstances. For precise information on Vernon Building Society’s approach, direct inquiry with the lender or a mortgage broker familiar with their policies would be necessary.
In this partnership between the Vernon Building Society and Connect Mortgages, the former's expertise in underwriting complex cases will provide unique opportunities for clients seeking personal-finance solutions, particularly in the realms of mortgage finance. As the Vernon Building Society expands its reach and increases its visibility, this focus on personal service and complex case underwriting will allow Connect Mortgages to serve an even larger number of clients with diverse business needs.
