The two branded lending products, the Pink Menu Mortgage and the Reality mortgage, are now available to both Pink’s Premier and Club members.
The Pink Menu Mortgage is a non-conforming, menu-style product range based on LIBOR-based weightings, offering a 1.35 per cent discount until 1 July 2005 with a three-year stepped discount option.
The other mortgage is also non-status with a choice of lifetime tracker or discount until 1 July 2005. The Menu Mortgage attracts 1.5 per cent commission and the Reality mortgage 0.5 per cent.
Pink is also dabbling in the direct to consumer market, but only in a lead generation capacity to support its appointed representative (AR) or introducer networks.
Pink receives a number of approaches from consumers interested in their products or contacting them via the website.
Tony Jones, managing director of Pink Home Loans, said: “Some of those we can handle via a telephone-based service, or farm them directly out to our ARs, but we need to assess how efficient our lead generation can be. A number of brokers have also said to us, ‘I am approaching retirement and don’t want to gear up for regulation and so am willing to pass on my mortgage business’, which is another potential source of leads.”
