The company’s packaging plus scheme allows brokers to hand mortgage case contact details to Vesta. It then performs the rest of the process, including all compliance work.Mark Leaper, manager director of Vesta, says: “The ARs we speak to say they have lost control and think networks have become manipulative and restrictive. And, to cap it all, some networks are withholding proc fee payments to try to prevent their ARs from leaving. “We have lots of customers who have resigned from networks because of this and have decided to stick to what they do best – service clients’ needs.” He adds: “Networks had their window of opportunity and most of them have blown it. The models they have put in place have failed to energise brokers who are rebelling against what they realise is an unnecessary burden.” Vesta has also revealed it has added Amber Homeloans to its panel of lenders, bringing the total number of lenders on its panel to 24.
- Top trends
Scottish Widows Investment Partnership has commented on the governments forthcoming draft legislation on Real Estate Investment Trusts. It believes REITs will provide a stable savings product that is accessible to private investors for savings and pension investment, especially if introduced as ISA, PEP and CTF eligible.The draft legislation will present the UK with a window […]
Purely Mortgages has appointed Alastair Waldron as head of business development. He has been brought in to further develop the business’ third party and affinity marketing opportunities. Waldron, an experienced marketer in financial services, is best known for his work in the lifetime mortgages sector, most recently helping Prudential launch into this area.
Just a year ago the mortgage market was facing an uncertain future. Out of mortgage regulation came a host of problems. However, today the industry couldn’t be more different. Not only have problems been overcome, all sectors of the industry are more confident.
Research by Alliance & Leicester for Mortgage Strategy shows that 64% of brokers feel confident using packagers.
As the auto-enrolment revolution is rolled out to companies with between 50 and 249 people, employers will be grappling with the new rules and requirements. Even though introducing the new regime can be time consuming, many employers are regarding it as an opportunity to review their benefits packages, with employee health and wellbeing regarded as a popular addition.
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