NDL conference: Sub-prime business to fall by 30%

Speaking at Network Data’s annual conference today, Alex Cotton, chief executive of Network Data says that it is predicting sub-prime business to fall by 30% in 2008, and prime by 10%.

She also revealed that BM Solutions has lost its top spot in the lender charts and has dropped to third place, while Abbey for Intermediaries is now the lender that Network Data Appointed Representatives use the most.

As brokers look to diversify it also revealed that it has had a record year in terms of secured loans.

Its members will also now be able to launch packaged applications electronically, as well as benefit from a wider range of equity release and home reversion products.

One area the network felt brokers are not taking advantage of is the protection market, where it says many of its advisers are still not cross-selling, which is contributing to an estimated £2.3 trillion protection gap in the market.
In response to this Network Data is adding Legal & General and other providers to its insurance panel.

It will also be introducing a new AR handbook, as well as a quarterly newsletter, and improved website.