The broker is offering between 15 per cent and 25 per cent commission on each deal it receives. It then pays the same amount of commission on every deal the introducer does during the life of its relationship with the intermediary.
This commission percentage is also offered on every transaction carried out by the first new person recommended by the introducer and also for any first generation referrals made. The exact amount of commission received is assessed on an individual basis and is subject to circumstance.
Commenting, Nick Gardner, director at Chase de Vere Mortgage Management, said: “We continually reward introducers by giving them a slice of every bit of business they do. We are ambitious and want to grow aggressively. The idea is to take away the hassle for those with a specialism in another field.”
Jim Gillespie, principal at Independent Financial Services, said the commission rate was generous, but questioned introducers’ ability to track transactions.
He said: “While the commission rates being offered are very good, I am sceptical about how it could be policed. How will introducers be able to work out whether or not they are really being paid for every bit of business they have brought to the company? There is no way of knowing without Chase de Vere breaking the Data Protection Act, which I am sure it won’t do.”
Gardner said while client details would not be revealed, systems are in place to ensure all deals are tracked back to the original introducer.
He said: “There has to be an element of trust involved. It would not take much time for us to get found out if we did not practice what we preached. Introducers get a statement of dealings but this does not contain any personal client data, so the confidential details are protected.”
