Packager set to launch £3m incentive Scheme to introducers

Sub-prime mortgage packager The Finance Centre has launched a £3m intermediary incentive scheme.

The Finance Centre is in the process of distributing some 8,000 vouchers – worth a minimum of £250 and a maximum of £449. And intermediaries cashing in on the voucher could be £699 better off – providing they complete at least two sub-prime remortgage deals before March 31 2003.

The deals that are submitted will qualify to have either legal fees or valuation costs refunded.

TFC senior partner Wayne Smethurst says: “This is 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.”

Two clauses apply to the offer. Brokers must use the panel solicitors, Warrington-based lawyers Jonathan Edwards, and intermediaries will not be able to use the vouchers in conjunction with any other TFC promotion.

Smethurst adds: “It&#39s a major milestone for us. We believe it will be an attractive proposition to established sub-prime players – and those mortgage introducers who deal in the market on an occasional basis.”

Andrew Brown, partner at TFC, adds: “This scheme has been really popular and we intend it to run for longer than we initially planned.”