Each lender and their products have been examined to ensure that wherever possible, an increase in the amount available to the intermediary could be made. In total over 30 separate procuration fees have been increased – in some cases dramatically increased – across the panel of 30 lenders that includes Abbey National, Halifax, Nationwide, Northern Rock and Cheltenham & Gloucester to name just a few. This offers intermediaries the chance to earn extra income on business submitted to lenders they currently use with little or no additional work for them and for those that would like to do direct submission business, but cannot currently gain access to some of the ‘big name’ lenders, Genesis Direct offers new business opportunities with the wide range of choice available on its panel.
Although a relatively new service – having been introduced around 18 months ago – Genesis Direct has a simple approach to direct submission which has lead to a rapid increase in the amount of mortgages being submitted by this method, and has made it a popular way for intermediaries to do business as an alternative to the usual packaged route.
