The share offering will be realised at the sale or floatation of the company.
The proposition is aimed at directly authorised intermediaries who wish to use the Mortgage Times Group’s compliance support programme to buy in services to comply with the new regulatory regime.
The Group also offers packaging via The Mortgage Times, household and general insurance via the General Times, and professional guidance and support via Advice Times.
Commenting on the announcement, Christopher May director at the Mortgage Times Group, said: “We have spent a considerable amount of time researching the market and found that many networks that seem to offer a good mortgage proposition lose their competitive edge because of the pure protection products they are offering.”
Reacting to the development Richard Griffiths, managing director of Network Data, said: “They seem to be following a policy of line extension with their various propositions. This runs the risk of confusing brokers who may want all their services under one umbrella.”
The Direct Times website www.directimes.com will offer access to products from all major providers including Friends Provident, Legal & General, Norwich Union and Scottish Widows.
