The company was formed in 1994.
As part of a co-ordinated campaign to build on these strong foundations, IMB is rebranding its entire non-conforming and sub-prime mortgage portfolio. The company’s specialist products will now be known as ‘Liberator Mortgages’. The products of Preferred, Platform, TMB, igroup, Mortgages PLC, Kensington and GMAC all now come under the “Liberator’ brand.
“Our key commitment is to ensure out intermediaries place consumers with appropriate mortgages that suit their long-term financial needs,” explained IMB Director Wendy Peace.
“We have taken a long hard look at our business model and decided that we can significantly increase our business by building up our specialist lending arm. In order to do this, we need to make sure that everyone understands what our proposition is.
“Putting it simply, our goal is to ensure that we liberate the consumer, thereby ensuring that everyone involved in the lending process delivers a great deal that is transparent and gives great value at the front and back end.”
This means IMBs advisers will be offering as much advice to borrowers about redemption charges and tie-ins as they are about headline rates of interest.
“It’s in the interests of everybody that the consumer understands the precise nature of the mortgage deal they are entering into,” added Wendy Peace. “Our Liberator campaign will ensure this happens.”
Peace says that IMB to give its Liberator range exclusivity, the company will shortly be unveiling its own branded lending proposition. She said: “We have been in lengthy negotiations with some large lenders who have agreed to fund us in the second quarter of 2004. We are excited at this prospect. We believe that our business ethos lends itself to the creation of great intermediary-oriented products.”
Full details of IMB’s branded lending proposition will be announced shortly. Meanwhile, new and existing intermediary partners of IMB that distribute the Liberator portfolio will automatically receive an additional £250 commission.
“For the additional work involved in selling Liberator, we are rewarding our intermediaries with an enhanced commission of £250 per case,” explained Peace. “This reflects the additional work they have to do in procuring a best deal situation – and demonstrates that specialist mortgage advisers can earn good money ethically.”
Finally, the company is opening new offices in Northern Ireland and Scotland. “Initially we are targeting Belfast,” added Peace, “and that should be open in a matter of weeks. We’re equally committed to finding a location in Glasgow or Edinburgh. In both countries we believe there are major markets that are not having their needs properly catered for.”
