Now being made available to a much wider membership than the firm’s previous introducer scheme, AToM’s IAR offering is aimed at advisers who receive mortgage enquiries but who cannot (or do not wish to) advise on and arrange the mortgage contract.
AToM chairman, Vic Jannels explains: “The new IAR offering is designed specifically for those who, by necessity, have to provide a mortgage offering but who do not want to actually manage the process themselves. We used to call this service 'refer-direct' and offered it to just a small number of valued relationships. However, given the ever increasing ‘creep’ of the regulatory regime we are convinced that this service offering has a much wider audience these days. It continues to provide dramatic income potential value to those who are either fully authorised, but who would like to hand off their mortgage business or, who are not qualified in the mortgage sector, but who regularly come across clients that want a mortgage and need to deliver a solution to them. For example, these could be advisers that normally deal in investments and pensions and who do not want to spend time arranging a mortgage, preferring instead to refer it to an experienced third party.
“The AToM motto is ‘Mortgages Made Easy’ and the IAR service has been honed over seventeen years ensuring that advisers’ introduced clients will always have direct access to our fully qualified and competent consultants. Their job is to take brief details from the introducer and then make contact with the applicant to commence a comprehensive and compliant mortgage process. Whilst we assume responsibility for the whole regulatory process the introducer is, if they wish, able to complete the mortgage fact find, the mortgage application form and conduct ‘generic’ conversations with the client but must not stray into advice. Introducers will need to be aware that there are strict limitations in terms of the depth of their involvement in this arrangement and, whilst the client remains theirs for all other transactional matters, AToM will, by necessity, take responsibility for every aspect of the mortgage itself. That said, once the case has completed, we will not make further contact with the client without the introducer’s specific instruction and, for GI sales the initial introducer still has full access to provide this for the applicant.”
Procuration fee payments are instructed within 48 hours of completion and the AToM IARs will receive between 55% and 65% of the lender’s normal procuration fee, depending on the value of the mortgage. If the introduced clients remortgage in future, the IARs will receive a similar proportion of the procuration fees. In addition, there are no membership fees, monthly fees or operational and regulation costs to be paid.
For further details call 0845 40 40 240
