Chief executive of the NACFB, Adam Tyler, explained: “We are delighted to announce that the NACFB has secured an override commission scheme with Santander Business Banking that will benefit the entire membership of the Association.
“This scheme has arisen from the mutual support between our Association and Santander in recent years and has been widely welcomed by our brokers. It means that all NACFB Brokers introducing business into this part of Santander will receive extra commission and it will not affect any existing commission schemes that our members may have.
“The scheme is great news for our membership and the take up so far has been excellent. We sent registration letters to all of our membership this month and the response has been overwhelming so far, with immediate reaction from a great number of our members. We are encouraging all of our brokers to sign up to the scheme, as this will also provide help to support some of our smaller brokers.”
The scheme will also generate increased income for the Association. It is considering various options for investing this which could mean a reduction in the cost of membership, lower PI insurance or free CommercialKeeper packages for all members. But the decision for this will ultimately lie with the membership.
Andrew Turzynski, head of commercial intermediary mortgages at Santander Business Banking, said: “This scheme has come from the strength of the relationship between the NACFB and Santander. Brokers play an integral part of our business and it’s fantastic to be involved in a scheme that will benefit them and generate increased income for the NACFB.”
