The bonus in commission will apply to applications submitted before the end of February 2008 on loans over £100,000.
To qualify for the bonus, Pink intermediaries must print off a voucher from Pink Home Loans’ website and submit it with their mortgage application on day one. Full terms and conditions are on the network’s website.
Neil Hoare, associate director, proposition development for Pink Home Loans, commented: “The start of the year is typically more subdued in terms of the level of mortgage business available to brokers.
"Therefore the £100 bonus will give intermediaries a welcome boost to their income for business submitted during the month of February.”
Carl Elsby, of Elsby Associates and a Pink appointed representative, commented: “Given that February can sometimes be a quieter month in the mortgage calendar and in addition to the current market conditions, this is certainly a great incentive.”
However, Roy New, a London-based sole broker, commented: “It’s a ploy to drum up packager business. What the network should do is look at better commission rates all round, as the best way to do it is to increase procuration fees.
"I think we will see more incentives like this, because all mortgage packagers are struggling, as they are not getting the business to sustain themselves.”
