The news delivers a blow to other mortgage networks still trying to break into three figures and sends out a strong message of support for Network Data's proposition.
Richard Griffiths, managing director of Network Data, says: “We're more than happy with the number of new ARs that we have signed up to our proposition and are more than confident that we will reach 1,000 members by the time M-Day rolls around.”
The announcement comes on the back of Network Data receiving its grant of permission under Part IV of the Financial Services and Markets Act 2000 late last week.
Griffiths adds: “We are pleased to have received our FSA number. This is just the start of our commitment to ensure we maintain our ongoing compliance with the FSA rules.”
And Alex Cotton, head of sales and marketing, says: “This confirms our commitment to those firms that have already signed up to us as appointed representatives. I hope that firms still considering which principal to join make a decision soon to ensure that they have time to be accepted.”