Genworth, the provider of mortgage insurance products to lenders in the UK, has today announced a new relationship with the Family Building Society, part of National Counties Building Society.
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div>Genworth, the provider of mortgage insurance products to lenders in the UK, has today announced a new relationship with the Family Building Society, part of National Counties Building Society.
The building society has opted to use Genworth’s private mortgage insurance products in order to help launch a low start mortgage.
National Counties will utilise Genworth’s insurance policies in order to provide high LTV mortgages to new customers and becomes the latest building society to opt for a private insurance arrangement in order to offer higher LTV mortgages.
Genworth’s mortgage insurance products allow lenders to access bespoke arrangements which they can tailor to their own needs.
Simon Crone, Vice President - Mortgage Insurance Europe at Genworth, said: “This new relationship with the Family Building Society proves that societies are at the forefront in this market and are also committed to exploring new niche areas in order to support those potential borrowers who might otherwise have very few mortgage options available.
“We are extremely pleased that the Family Building Society has opted for Genworth’s private insurance arrangement which we believe provides better flexibility in terms of cover and premium options than they would find elsewhere or be able to secure through the Help to Buy Scheme.
Keith Barber, Associate Director, Business Development at the Family Building Society, commented: “We chose Genworth as our preferred partner for the provision of mortgage indemnity given their fit with ourselves and their experience in the UK market.
Genworth is an associate member of the BSA and CML and is a Fortune 500 company providing financial services to 600 different institutions in over 25 countries and has been working in the UK market for some 18 years
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