TMA Mortgage Club has announced the addition of Penrith Building Society to its lending panel.

The move will bring more products and opportunity to club members, TMA Club said, as well as growth for the society.

TMA Club is part of the LSL Property Services Group of companies and benefits from its economy scale and from the expertise of its compliance, finance and IT development teams. LSL also incorporates TMA Club’s sister company, PRIMIS Mortgage Network.

Commenting on the latest partnership, development director at TMA Club, Lisa Martin, said: “Penrith Building Society brings a raft of lending possibilities to the club that include lending based on affordability as a result of their expertise in manual underwriting as well as elements such as mortgage terms of up to 40 years with no maximum age.

“The Penrith has huge experience and expertise in lending on second properties as well as holiday lets and ex-pat holiday and buy-to-let lending.

“We are thrilled to have the Penrith on board which brings an additional dimension to our lending panel. As we move forward we look forward to developing some exciting proposition with them to meet the need of our member and their borrowers.”

Head of product development and distribution at the Penrith, Tim Vigeon, added: “We are delighted to have taken this step with TMA, whose business, ethos and aspirations are entirely in keeping with our own. We hope to become a key business partner over the coming months and work together on new products and propositions for next year.”

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