Stroud has been planning to launch an intermediary lender for over a year but has had to limit plans to just an online offering in the face of the new market.
But it will now be launching the proposition, which will provide mainly prime mortgages, at www.itlmort gages.com, on November 3.
Sales and marketing director and ITL Mortgages executive Linda Will helped create Yorkshire’s intermediary transaction website in 2001 and later its intermediary lender Accord mortgages.
She says: “Creating Yorkshire’s online traction site was very tough. Not many people knew about online propositions so it felt like we were finding our way in the dark. It was a lot easier this time round.”
Will says Stroud wanted a name that was different. She says: “It is In The Loop Mortgages, a meaningful name that reminds advisers that they are always in the loop with us. We wanted the name ITL Mortgages to encapsulate why we are a different proposition. It was hard to come up with a name but we hope this enforces our stance.”
Stroud will also be offering buy-to-let mortgages and a self-cert proposition.