The offer applies to all products apart from Near Prime, where cashback has been increased to £500. Qualifying applications must be signed before 31st December 2005.
Optoma chairman, Andrew Seymour, said: “Our close working relationship with Kensington means that we are able to offer this great deal for an extended period. Optoma aims to treat customers as fairly as possible and the £1000 offer is a further example of our dedication to do that.”
Optoma offers over 800 Kensington products, accounting for a significant part of Optoma’s business. The £1000 cashback deal is funded through Optoma sacrificing some of its own proc fee.
“Optoma’s attitude is to drive business volume by benefiting the consumer. Advisers will still receive standard proc fees of up to 1 per cent, which we think is appropriate. Kensington continues to support our model and we feel comfortable to sacrifice some of our own margin to make it work,” said Seymour.
Optoma’s operations director, Harpal Singh, added: “The extension of the £1000 deal is very pleasing for us as it shows our continuing dedication to ensure a great service for intermediaries and their customers. Kensington has continued to evolve this year, launching a Near Prime range as well as fixed and capped rates with no early repayment charge (ERC) tail. More recently they have launched a Flexible Range, predominantly for the self employed.”
