Brokers turn to discount club to boost income

Utility Warehouse, a discount club which aims to cut consumers\' household bills, claims it has seen a surge in the number of mortgage brokers signing up to use its service.

Brokers have been using the service to top up their monthly income while the mortgage market has been going through a dry spell.

By signing up, brokers are able to offer their clients a combination of cheaper home phone, broadband, mobile phone, gas and electricity bills.

It costs brokers £199.75 to become distributors but commission is earned for every client that they sign up.

Alex Johnson, marketing manager at Utility Warehouse, says using his firm’s system is a good way for brokers to build up a regular income over three to five years.

He says: “In the past year we have seen more mortgage brokers becoming distributors as they look to generate additional business.

“If they stick with us, it’s possible for brokers to earn worthwhile additional revenue.”