Mortgage Next launches passport scheme

Mortgage Next, the mortgage distributors, is enhancing its mortgage club proposition for directly authorised brokers with the launch of its Passport scheme on October 1 2005.

Passport offers brokers a package of benefits, which not only includes access to market leading and exclusive mortgage and insurance products, but also AirMiles and free Mortgage Brain and Trigold subscriptions.

Passport benefits also include a new business team and regional sales managers dedicated to Passport members, as well as online applications and DIPs, and weekly e-mailed hot deals information.

Additionally, the product offers access to a panel of lead generation companies, a white label website facility, and competitive procuration fees paid via an express payment service and preferential rates with Goldsmith Williams Solicitors.

Other benefits are access to educational workshops and marketing support and a car-leasing scheme.

With the Passport scheme brokers receive 145 AirMiles for each standard completion and 290 AirMiles for each sub-prime and packaged case that completes, after the first two cases each month. Whats more, the first 1,000 brokers to join Passport will automatically receive 450 AirMiles enough for a return flight to Paris. Thereafter the joining bonus will be 250 AirMiles.

Membership of the Passport scheme costs 100 a year, which will be deducted from the brokers first proc fee payment after joining. If brokers submit 24 completed cases a year, the membership fee will be waived the following year.

Brokers can continue to use Mortgage Nexts club facilities without joining Passport, but will receive none of the Passport benefits on offer.

Justine Tomlinson, marketing director at Mortgage Next says: “Directly authorised brokers like to use mortgage clubs, but there is a need for clubs to differentiate and add value to their propositions if they are going to prosper in the future.

“Mortgage Next already has a strong brand and reputation for providing excellent products and services and we believe Passport will enable us to further strengthen our position by delivering a really strong package of benefits to brokers.

“A similar package of benefits will also be available to appointed representatives of the Mortgage Next Network. Our objective is to add real value to any broker who chooses the Mortgage Next brand, be they directly authorised or appointed representatives.”