Last week the company handled a record 1,000 applications from members representing loans in excess of £100 million.
PTI entered the mortgage market in January 2003 doing about 16 cases a month. The PTI Mortgage Club was set up in May 2003 with five lenders to provide members with preferential access and terms to a comprehensive range of mortgage products embracing all types of conventional and specialist homeloans.
Personal Touch Insurance invested £800 thousand into its Training and Compliance in Dec 2002. Our application was submitted to the FSA in Jan 03 to vary its permission for Mortgage and General Insurance and received its “Minded to Approve” letter from the FSA in June 2004.
The Club offers members three ways to do business. For ARs of the PTI Network, Mortgage Executive is a fees free proposition which includes free PI cover. Mortgage Select is for directly regulated intermediaries and offers access to all the facilities including free mortgage sourcing and compliance systems. Mortgage Introducer offers full support to non-regulated intermediaries who want to pass on leads and retain their client relationships.
The PTI Mortgage Club does not operate a restrictive system of product ‘panels’. PTI’s aim is to give intermediaries full and independent access to the entire marketplace.
The development of the Mortgage Club has been the responsibility of Nazia Cleall, Mortgage Sales Development Manager, and Roselle Hill, PTI Marketing Executive. Cleall says: “Our aim is to offer intermediaries an unrivalled business proposition which works on the principal that their business and PTI grow together in partnership. We will continue adding lenders to the Club to give intermediaries access to the whole marketplace rather than to a restricted panel of lenders where clients are unable to get the best products for their needs.”
The Mortgage Club is backed up by the PT Packaging, which currently comprises six packagers handling conventional and non-conforming loans. Intermediaries also have access to two other PTI services which offer additional sources of income – the online estate agency, The Property Supermarket, and the online conveyancer, PT Conveyancing.
