The move will enable any directly authorised mortgage adviser to improve their business efficiency, compliance capabilities, meet their TCF obligations and enhance their service to clients.
By using Sesame’s mortgage club, advisers can still earn the same level of procuration fee from all the major lenders and get access to a point of sale system worth £493 per annum.
Sesame is already funding the system free for its network members after recently rolling out a bespoke version. The latest development will enable Sesame to strengthen its service in the directly regulated market following a series of investments in its mortgage offering over the last year.
The Key is the leading business management system for mortgage brokers. Covering all FSA requirements for compliance, The Key allows advisers to control the entire mortgage application process from initial contact and the fact-find, through to sourcing, client management and integration with insurers and conveyancers.
Sesame’s offer is available immediately and the system will be free of charge to mortgage club customers who place 75 per cent of their mortgage business through the Sesame Direct Mortgage Service, subject to an average of two mortgage cases per month, per licence.
For full details of the offer visit www.sesame.co.uk/directmortgageservice
Commenting on the deal, John Cupis, Sesame’s head of mortgages and general insurance, says: “Technology solutions that help advisers to work more efficiently and compliantly are a vital element of our mortgage service. Sesame is well aware of the need to provide support to the advice profession at such a tough time, and we are responding by offering this valuable system free of charge to directly authorised advisers. The combination of increased regulatory scrutiny and a tighter housing market are taking their toll so the benefits of embedding technology into your business are more compelling than ever.
“This exclusive deal will also help us to hammer home the message that we are not just the UK’s largest mortgage network - we also offer the leading mortgage club for brokers. In working with The Key we have chosen an industry-led solution developed by advisers, for advisers. The Key has the flexibility to meet our customers’ changing needs, whilst also including the compliance functionality to help advisers meet the FSA’s TCF requirements. Mortgage advisers have access to management information in an easily presentable format and The Key also helps to speed up the sales process and increase productivity, by using pre-populated data within a wide range of additional services.
“Now is the time for mortgage clubs to raise their game and support advisers in this even tougher economic and regulatory environment. Our partnership with The Key is one of a number of new initiatives to be launched in the near future for both directly authorised mortgage advisers, along with those looking for a home with Sesame as part of our network.”
Mark Lofthouse, CEO of The Key, comments: “Sesame’s innovative mortgage club proposal offers brokers the best technology solution at a time when they need help, not only with cost but also ensuring compliance with TCF guidelines. We are proud to have been selected as Sesame’s technology partner.”
Richard Bennett from FM2 Financial Consultants in Hampshire was one of the first to benefit from this new initiative, and says: “We have already taken advantage of this offer of The Key through Sesame. It means we can still earn the same procuration fees as other mortgage clubs, but we also get a great point of sale system that saves us time and money. It also means we can focus on serving our clients better and selling compliantly. It’s our point of sale system that is funded by Sesame’s mortgage club, so by supporting them they support us. It’s a great deal all round.”
