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Loans etc offers commission boost

Loans etc is now charging a flat fee of £299 for all application form-only referrals from the secured loan lenders on its panel.

After Loans etc takes its fee, introducing brokers will retain the rest of the commission from secured loan sales on top of any payment protection insurance payments but only if the firm acts as lone packager.

For example, if total commission amounts to £1,500, Loans etc will only take the flat fee. The promotion applies to completions before November 30.

Graham Brent, managing director of Loans etc, says: “Since accelerating our drive for business-to-business work this year, it is clear that unpackaged application form-only enquiries are where we have the greatest success, highest conversion rates and biggest compliance satisfaction.

“Although we are happy for introducers to retain control over certain parts of the loan sale process, we hope this offer will encourage many smaller brokers to leave the specialist skills of selling and packaging enquiries in the hands of experts who will handle the related administration.”


Brokers should provide their clients with debt solutions

I have been disturbed by recent comments echoing the siren call that brokers should not help clients faced with crushing debts by giving them the right advice when consolidation has already been ruled out.

Lloyds TSB must recognise its power says AMI

Chris Cummings, director-general of the Association of Mortgage Intermediaries has welcomed the merger of HBOS and Lloyds TSB but says it must now recognise its power as the leader of the pack.

Meet Labour’s new economic guru

This week I can exclusively reveal that Prime Minister Gordon Brown’s office will soon announce the appointment of David Beckham as the government’s new economic guru. LA Galaxy is thought to have been paid £50m to release him from his contract, ensuring that he is free to sign for Labour. A job title has yet to be decided.

L&G bigwig joins Towergate

Ben Thompson, managing director of Legal & General Mortgage Club, has revealed he is leaving the firm to join Towergate Partnership, the parent group of his previous employer Paymentshield.


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