The calculator enables Appointed Representatives (ARs) to compare the cost of belonging to their existing network with the cost of being a member of the Mortgage Next Network.
The online calculator requires firms to state the number of advisers they employ, how many mortgages they complete each month and the level of current monthly costs payable to their existing network (including FSA fees and monthly PII costs). The calculator will then display the cost of belonging to the Mortgage Next Network and will highlight the savings to be made by switching network Principal.
Justine Tomlinson, marketing director for Mortgage Next Network, said: “It has become apparent from conversations with intermediaries that a number of AR’s are considering changing networks. In some cases it is because their network is not a specialist in the mortgage industry, or because costs are higher than expected, or because of a general dissatisfaction with the quality of support being provided.
“The two overriding concerns all brokers have when considering switching networks are cost and ease of making the transfer. Our online cost comparison calculator is designed to address the first of those concerns. Mortgage Next has one of the cheapest network tariffs and we have no doubt the vast majority of brokers who use our online calculator will be pleasantly surprised at the amount of money they can save by switching to Mortgage Next.”
