Speaking at the network’s inaugural conference, Jim McClerg, non-executive director at Mortgage Next, highlighted the need for networks to have firm financial backing if they were to survive in the future.
He said Mortgage Next had this in place and would use this to expand rapidly over the next three years.
McClerg said: “We have the financial clout to back up this network’s operations and also the ambitious growth plans we want to achieve. This growth will come both organically and, if the right opportunity comes along, through acquisition.”
However, McClerg insisted Mortgage Next would only integrate appointed representatives (ARs) into the proposition if they met the standards currently employed by its members.
With the Financial Services Authority (FSA) clamping down on networks, McClerg said Mortgage Next only wanted compliant brokers and would continue its policy of recruiting quality, rather than quantity.
Mortgage Next also revealed the additions of Sesame and Cardif Pinnacle to its panel.
ARs will have access to Sesame Select’s products, giving members advanced terms and daily payments.
Cardiff Pinnacle will offer mortgage protection products to Mortgage Next, giving its ARs more choice in the area.
Justine Tomlinson, marketing director at Mortgage Next, commented: “We listened to our intermediaries and spent time looking for the advanced terms and daily payments they told us they wanted.
“Anyone joining us needs to integrate their software with Cornerstone, our point-of-sale system, so we can keep as much single keying as possible. Cardif Pinnacle has agreed to this.”
