This alliance also means that Appointed Representatives with existing Paymentshield policies will continue to receive their monthly commissions.
This follows significant increases in term commissions and an increase in the products and providers now available through Network Data Ltd’s insurance panel.
Network Data Ltd will release a new version of their mortgageLink software in August, which will meet all FSA requirements and include Paymentshield’s Inertia system.
A further release will be developed which will fully integrate the system within the mortgageLink system before January 14th 2005 – start of insurance regulation.
mortgageLink will provide fully compliant insurance rules including production of “demands and needs” statement.
Richard Griffiths, Managing Director of Network Data Ltd comments:
“ We are very pleased to be dealing with a major insurance provider such as Paymentshield and their leading edge systems for electronic submission of proposals with same day on risk cover. We are committed to providing the best range of insurance providers and products in line with our comprehensive lender panel which is the largest in the market.”
Network Data Ltd are also in advanced discussions with a number of other major insurance providers to further increase their insurance panel and will provide further information in the very near future.
