The new services include:
Support for Directly Authorised brokers – Brokers who opt to be directly regulated by the FSA may well need to buy in additional external services, to support their future business activities. Mortgage Next will provide a menu of services covering compliance, training, product sourcing, marketing and auditing. From this list advisers will be able to pick and choose those services which best suit their needs.
Support for Appointed Representatives – Mortgage Next will provide a comprehensive range of services for brokers who wish to become Appointed Representatives. Mortgage Next’s network proposition will deliver full regulatory support and provide all the services an intermediary will need to carry on generating mortgage business. This will include access to a comprehensive panel of mortgage lenders, the ability to source related products such as general insurance, commercial and secured personal loans, provision of professional indemnity insurance, as well as training and marketing support.
Mortgage Next’s network solution will be ideal for busy mortgage brokers who want to spend the maximum amount of time focussed on helping their clients while minimising the time and cost of complying with the new regulatory regime. Mortgage Next is initially looking to recruit upwards of 500 firms or 1000 people to its new network.
Mortgage Next will be announcing its price tariff for the new services shortly. The FSA has not yet published its final rulebook and is still releasing information which has a direct impact on pricing decisions.
Commenting on the new services, Martin Maynard, Mortgage Next’s Managing Director, said “Over the last seven years Mortgage Next has developed a strong reputation as the UK’s leading independent mortgage network. In preparation for the new regulatory regime we have invested heavily in time, staff and our infrastructure to ensure we are in a strong position to offer a full range of services to mortgage intermediaries, whichever status they decide to adopt.”
“The services we will offer are not a pipe dream, they are in place now. We have contracts agreed with suppliers, compliance expertise on board and the support of some of the UK’s leading lenders. We are launching our new service propositions from a position of great strength and we look forward to talking to mortgage brokers about the ways in which we can help them in the future.”
Brokers who wish to find our more about Mortgage Next Direct or Mortgage Next Network service propositions should either attend one of our regional Castles and Coronets roadshows which are being held during September and October, or register their interest on the Mortgage Next website www.mortgagenext.co.uk - details of roadshow venues are also available on the website.
