Beacon’s new lending arm, Beacon Homeloans, will initially specialise in the non-conforming market and distribution will be exclusively via the Regulatory Alliance of Mortgage Packagers (RAMP), whose members include em-financial, The Finance Centre and Solent Mortgage Services.
The group now consists of an IFA (Beacon Asset Management), a packager (Beacon Mortgages) and the lending arm.
The business has been restructured resulting in Simon Goldthorpe continuing to run the IFA business and Clive Willson running the packaging business.
Brian Pitt, director at Beacon, said: “We have watched developments over the last couple of years with interest, whilst building the Beacon proposition via our IFA and packaging arms. The strategy we have decided on fully supports the packaging sector and by restricting distribution to those packagers that are members of RAMP, we intend to build the business in a structured way to ensure we keep our distribution partners in the loop at every stage of our development.”
“We fully intend to make a mark in this sector on a service and technology-based proposition, but without the restrictions on the way people want to transact mortgage business. Customers should be able to choose the way they fulfil a purchase whether online, by fax, phone, face-to-face or by mail, and our proposition will support those philosophies,” Pitt said.
John Rice, managing director of RAMP, said: “We are really enthusiastic about the opportunity to work closely with a new market entrant. Beacon Homeloans will be a welcome addition to our lender panel and all the RAMP members are looking forward to promoting the new lender.”
