In another sign that competition is emerging in the mortgage market a major aggregator has announced a deal with a building society.
The Advisor has reported that national Mortgage Brokers (nMB) will partner with The Rock Building Society to sell a new suite of products through its broker network.
The building society will provide underwriting for the home loan products which will be available exclusively through nMB. This announcement comes shortly after Heritage Building Society cut ties with nMB.
The partnership between nMB and The Rock is another sure sign that the local home loan market is returning to prosperity. Recent moves by several lenders and aggregators has pointed towards better times ahead for mortgage brokers and borrowers alike.
The latest move by nMB and The Rock should provide yet another strong alternative to the majors and help bring competition back to the mortgage market.
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