As one of the UK’s most successful intermediary distribution channels, Optoma InterPartners will be ideally positioned to take on Principal Company status and provide intermediaries with a superior offering as they face the challenges of new mortgage regulations set to come into force in October 2004.
Optoma’s business was conceived with full insight and knowledge of the service issues that mortgage brokers face every day, and the InterPartners proposition is based on in-depth intermediary research that identified Independent Mortgage Brokers needs post regulation in October 2004. Andrew Seymour, Chairman said: “We will provide our Appointed Representatives with the freedom and flexibility to allow them to continue with ‘business as usual’ as much as possible, enabling them to develop their business, not inhibit it.”
Optoma InterPartners will provide Appointed Representatives with a business structure providing seamless transition from MCCB regulated business to FSA regulation. Compliance processes have been designed to be as practical as possible for the intermediary, and compliance fees will be based on a per application fee with levels calculated on volume and type of mortgage product sold.
The network’s intention is to provide totally transparent costs that are easy to manage for the Appointed Representative. Earning opportunities will be increased through enhanced procuration fees and access to a range of insurance and life products. ‘Our objective is to help maximise value of every sale for the Appointed Representative and look at the lifetime value of the client through sophisticated software, not just the mortgage transaction’ said Managing Director, Matthew Bright. Bright added: “Establishing Optoma InterPartners is a logical progression in the development of our business.”
Full costs and membership packs will be available from the Optoma InterPartners stand at this year’s Mortgage Business Expo (stand F4) on 18th and 19th November at Earls Court.
