As part of the scheme, The Mortgage Times Group has introduced a 60 per cent gross commission incentive for intermediaries who offer a secured loan.
The promotion offers the commission across the Group’s revamped secured loans panel, with the applications underwritten by the secured loans team. Intermediary procuration fees are paid on completion, with an online decision-in-principle response offered within one hour.
The Group also confirmed it had seen a 30 per cent rise in second charge applications since the start of the year.
Commenting on the launch of the gross commission scheme, Payam Azadi, head of marketing at the Mortgage Times Group, said: “Our secured loans proposition is thriving and this deal will offer members encouragement to offer these products from our extensive panel before the end of 2007.”
He added: “We hope that this promotion will raise the profile of our offering even further to Mortgage Times Group intermediaries, and make them aware of the high commission benefits of such a lucrative offer.”
Peter O’Donovan, mortgage manager at Bestinvest, said: “Anything that improves the commission brokers are being paid will interest them. Mortgage Times is cleverly picking up the market niches.”
