The Finance Centre unveils £3m sub-prime incentive scheme

Newcastle-based packager The Finance Centre (TFC) is to launch a major incentive scheme to intermediaries worth nearly £3 million over the next five months.

The Finance Centre will unveil the venture today at the Business Expo 2002, which is being held at London&#39s Earl&#39s Court and Olympia exhibition centre. A total of 8,000 vouchers &#45 worth a minimum of £250 and a maximum of £449 &#45 are to be released to the intermediary community at the event.

Every mortgage broker or IFA who takes away the vouchers from TFC&#39s stand (number 732) could be up to £699 better off, providing they complete at least two sub-prime re-mortgage deals with TFC before March 31 2003.

To benefit from the scheme, intermediaries must complete two sub-prime re-mortgages during the period November 12 2002 to March 31 2003. In return for placing the business, submitted deals will qualify to have legal fees or valuation costs refunded by TFC.

To be considered for the offer, brokers must use the panel solicitors, Warrington-based lawyers Jonathan Edwards. Intermediaries will not be able to use the vouchers in conjunction with any other TFC promotion.

Wayne Smethurst , senior partner at TFC, says: “It&#39s a genuine offer. We will be refunding the legal or valuation costs on both remortgages that complete within the period. If all 8,000 forms are used by intermediaries it will mean that our pockets will be almost £3m lighter at the end of the day.”

“It&#39s a major milestone for us and we believe it will be an attractive proposition to established sub-prime players &#45 and those mortgage introducers who deal in the market on an occasional basis. We also think that Business Expo 2002 is the perfect launch vehicle.”

Intermediaries visiting the TFC stand at the Business Expo event will also be eligible to enter for a free bottle of white or red wine and two free prize draws for luxury weekend breaks for two in Paris.