Enterprise Group has revealed that its EDGE system now has over 2,100 registered users, and is receiving over 150 enquiries a day.
In the last quarter of 2006, Enterprise ran a campaign where any applications sourced through EDGE would qualify for a free administration fee, which includes the cost of valuation, for all products and all lenders.
As a result, Enterprise has received a 50% jump in new business and a 25% increase in the average loan size received.
Now for all applications, to all the products of Advantage, Kensington Mortgages, First National, GMAC-RFC Partners and Victoria Mortgages, where the EDGE was used to source solutions upfront, the application qualifies for a free administration fee.
Michael Clapper, chief executive officer of Enterprise, says: The campaign was a huge success, and we now have many regular users of EDGE.
“We want to thank our EDGE introducers by part-extending this campaign into 2007.
“Following the recent bank base rate rises in November and January, and warnings of more to follow, free fees are ever more attractive to mortgagees, particularly in the sub-prime market.