The packager will allow the network’s members access to 23 lenders currently on the Trustguard panel, giving Intrisic’s appointed representatives (ARs) additional options.
Both companies insisted their respective investment in technology made the link-up easier and both expected to see an increase in business submitted electronically.
John Hayden, product and services director of Intrinsic, said: “This appointment follows a thorough review of the market. By adding Trustguard, we’ve immediately increased the number of lenders available to our members, particularly in the specialist areas of the market. We are pleased to have it on board and look forward to working closely with it in the future.”
In addition to the link up with Intrinsic, Trustguard has launched an incentive scheme on its SPML core mortgage products.
The packager will give brokers a marketing allowance of £300, in addition to the proc fee, to spend on the best way to help the client. The firm stated this could be used towards valuation or legal fees or as a cashback gift to the client.
The offer applies to all SPML business submitted between 3 July and 29 September 2006.
Commenting, John Pearson, managing director at Trustguard, said: “We’re delighted to be entering into this relationship with Intrinsic. It is a fast-growing network and, like ourselves, has invested heavily in technology. With the range of products available, we’re looking forward to writing a lot of business with it.”
“The value of the marketing allowance, coupled with SPML on-site underwriting, is a winning combination for our brokers and their clients.”
David Mead, director at Flexible-mortgage.net, said: “In an ideal world, it would be in the interests of ‘Treating Customers Fairly’ to help the client with valuation and legal fees but my concern would be whether this money sees its way to the client.”
