m2i have secured a partnership with HMC funding and British Overseas Mortgages. Both companies were founded by Barry Bailey and Ron Howell two years ago. Between them they share some 50 years experience within the mortgage business which enabled them to identify the niche areas within the mortgage marketplace. The unique selling points of the two companies are as follows:
HMC Funding British Overseas Mortgages
1. Market leading secured loans up to £100,000
2. Up to 125 per cent LTV
3. Genuine Self Cert available
4. Online application process
5. Clear, concise process support
6. Choose term from five to 25 years
7. No fees charged
8. Maximum industry commission payments
1. Earn more Procuration fees
2. Gain more customers
3. Expand your product offering
4. Online applications
5. Customer legal support
6. Self cert options
7. UK deposit raising with HMC Funding
Steve Butler, head of m2i commented: “We are constantly striving to be able to offer our members even more choice of services at their fingertips and will continue to secure a selection of relationships for them as it is imperative that we are constantly evolving and growing in order to further build on an already healthy membership database."
Barry Bailey, sales director of HMC Funding and British Overseas Mortgages describes the last two years: “Not happy with launching one company in the UK but also now a leading overseas mortgage specialist, with operations in Florida, Spain and shortly Marseille, France, our goal for both companies is very straight forward and is totally customer driven.
"We provide financial products and service to all our customers at the most competitive rates available. One word which is in every day use at both their Reading and Bristol locations is 'cascade'. We are pleased to confirm that over 60per cent of our UK business fits on our lowest rate programme. This also applies to our overseas mortgage programmes”
Ron Howell, commercial director, continues: “In the USA the mortgage industry has been a regulated environment for many years, and to ensure we stay on top both directors hold a broker licence and a brokers business license which is approved by the Florida Financial Services.
"With years of foreign mortgage and property experience we know what our customers are looking for, our experienced local English speaking consultants in Europe, supported by our own experienced lawyer will ensure your own personal requirements are achieved.”
Barry says he is no stranger to the Mortgage 2000 family: “Our new relationship with Mortgage 2000 is the most exciting development so far. I have been very close to the development of Mortgage 2000 from day one, and would describe their position in the UK markets as outstanding. You only have to meet the people and experience their attitude to begin to understand how this company ticks. From front desk to boardroom you are surrounded by true professionals and we look forward to playing our part in their future development.”
The HMC/BOMC partnership goes to further strengthen m2i’s already impressive proposition.
• A full compliance framework and regulatory support
Intermediaries will have access to the compliance support and advice of the team, headed by compliance director, David Payne, former operations director of the Mortgage Code Compliance Board (MCCB). Benefits include managing intermediaries FSA application for authorisation, routine compliance checks and visits, helping with the Approved Persons Regime, plus ongoing training and competence.
• Technology
m2i utilises the Mortgage 2000 “Encore” sourcing system, which incorporates the Mortgage Trading Exchange (MTE), as well as “Adviser Office” from 1st Software. The two systems have been combined to provide a complete client database management system, a compliant sales process, audit trails, and pre-population of data, which means information is keyed only once. Both systems are provided within the membership package.
• Lender partnerships
While directly authorised firms automatically have freedom of choice within the market, m2i members will also be able to utilise the m2-mortgage club, one of the largest lender panels in the country with over 50 lenders, providing exclusive products, enhanced procuration fees, and electronic trading facilities. In addition 20 lenders are accessible through Mortgage 2000 Design and Processing (m2-d&p), one of the top packagers within the country, and applications can be submitted electronically from the “Encore System”
• Soft packaging
This recently launched state of the art technology is available to m2i members free of charge. This online system guides you through lender specific criteria, enabling intermediaries to ‘process’ client cases up to offer stage and on average will produce additional revenue in excess of £250 per case, for intermediaries who use the system
• White labelled website
Each m2i firm can receive a white labelled version of the UK’s top personal finance website, moneysupermarket.com, which has over 20 finance channels including secured and unsecured loans, credit cards, various forms of insurance and even utilities. The members’ version of the site will be fully branded with individual company logo’s and contact details.
• Free mortgage and term assurance leads
m2i members will also be entitled to receive free leads from the Professional Adviser Alliance. These leads are generated from the leading internet sites in the UK and research has shown that over a 2-3 month period, 44% of the leads result in an application.
• Other benefits
Also included within the m2i package, is access to a range of general insurance partners, marketing and promotional support, ongoing training facilities, a loans panel,
conveyancing, life insurance providers, and commercial loans
