Mortgage firms visiting the stand on those two days only will be able to take part in an incentive that, according to the result, will give them each a share of a £50,000 when they subsequently join Home Finance.
Mortgage brokers can contact MGM Home Finance at www.mgmhomefinance.co.uk
Stephen Maskens, Manager of Home Finance said “ This is a light-hearted way of highlighting a couple of very serious issues for mortgage broker firms. After all, they are gambling their entire future on their regulation choice.
“Firstly, the time has come to make a decision and the prospect of being compensated for giving up the time this decision deserves will make life easier. Secondly, it illustrates that we have the capital backing and confidence about our proposition to allow us to do this, anyone signing up to a tied proposition needs to be sure that their chosen host can last the distance.”
In addition brokers signing up prior to, or as a result of meeting Home Finance at Mortgage Expo will receive an extended founder member status offer with a ‘no fees’ guarantee and entitlement to share in the £1,000,000 founder members fund. MGM Home Finance will be on stand E38 at the Manchester Mortgage Expo in May.
With regard to the general deferral of decisions to apply direct or join a mortgage proposition Stephen Maskens commented, “We can see a problem mounting towards the end of October where the better mortgage principals have delays in new membership caused by brokers leaving this to the last minute.
“Some firms may feel obliged to join a company with no delays or one that circumvents a proper joining procedure and risks FSA sanction in the future.
There were many occasions in the past where the regulator forced life companies to conduct retrospective referencing and even took entire sales forces off the road for retraining. We really want to engage these firms in conversation now to provide a smooth transition in advance of any rush at the end of the year”
Home Finance expect the brokers attending Mortgage Expo in Manchester to be clearly split into those that have applied for direct regulation and those actively looking for a mortgage principal.
