Tandem Bank has announced its entry into the residential purchase market.

The firm said its launch had been brought forward due to “extensive broker demand”.

Tandem has been working closely with intermediary partners to ensure that customers’ remortgages complete without unnecessary delays.

Overseeing much of the legal work, the firm found that by tightening up the process, it could reduce the time taken to complete the transaction.

The launch has come earlier than expected for the lender, following the market’s reaction to how Tandem has streamlined its remortgage process.

Managing director of Tandem’s Mortgage Division, Steve Beard, commented: “We’ve listened to our intermediary partners and, following positive feedback, we are pleased to be able to launch our residential mortgage purchase product range earlier than expected. We’re looking forward to delivering Tandem’s effective and quality service to intermediaries and their clients.

“With the purchase products, we’ve kept the same easy to use process. Intermediaries can submit a client’s DIP request through our portal and decision engine and receive a copy of the applicant or lender’s credit file once the ESIS has been produced. This gives the adviser all the necessary information to make a correct recommendation to their client.”

Beard added: “It’s worth remembering that as a deposit funded lender with strong savings products, Tandem Bank is able to offer product transfers, further advances and porting to existing customers.”

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