Openwork adds Fleet to panel

Openwork has added Fleet Mortgages to its lender panel.

The network’s advisers will gain access to Fleet’s range of buy-to-let mortgages for residential landlords, limited companies and HMOs.

Paul Shearman, mortgage proposition director at Openwork, said: “The addition of Fleet Mortgages will give our advisers access to a lender with strong knowledge of the specialist buy-to-let market and a particular focus on limited company lending, and lending to landlords with houses in multiple occupation and multi-unit blocks.”

Earlier this month Openwork set a tragetwriting more than £10bn of mortgage business this year after writing £9.1bn in 2015.

However as it stands lending will far exceed that target. So far in 2016 Openwork’s lending has been 48% higher year-on-year than the same period last year.

Bob Young, chief executive of Fleet Mortgages, said: “Now that some of the dust has settled from an incredibly busy period for Fleet Mortgages over the last few months, we are looking to bolster our distribution panel with a number of key additions.

“First up is Openwork which has a strong reputation and long history in the financial advice marketplace; up until now its AR firms have been able to access our products via our packager relationships, but with this announcement they can now submit business direct to us.

“The buy-to-let market will continue to shift with the external interventions placed upon at, however at the heart of the matter is the continuing, and growing, need for a strong private rental sector.

“This will not change and we believe that demand from landlords for buy-to-let finance will remain strong – it’s our intention to offer specialist products and support to advisers and to continue to develop our proposition to be a leader in this sector.”

Just Mortgages Direct joined the network last month to become Openwork’s largest mortgage-focused appointed representative.

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Read the full story and more at Specialist Finance Introducer