The Professional Mortgage Network has signed up 70 appointed representative members within the first eight weeks of its launch - and is in advanced negations with over 80 other organisations and individuals eager to sign up to its proposition for ARs.
This means that Leicester-based PMN is now ahead of target in recruiting a membership of 400 ARs and principals by April 2005.
In a dual marketing approach, the network will start the second phase of its membership recruitment programme. This means PMN will also focus its efforts on intermediaries who are pursuing principal status as well as those who have declared an intention to seek AR status.
PMN managing director, Dale Knight says: “Because of the impact we have had already, we have decided to bring forward the launch of our Principal offering by six weeks. This means that as of today, we are actively recruiting members who are seeking direct authorisation from the Financial Services Authority.”
Principal members keen to align themselves with a professional network can look forward to receiving a wide range of benefits from PMN, including no on going costs for those members who are active within the mortgage market and can write quality, volume-based business.
Direct access to a blend of lenders and general insurance product providers and a guarantee that all lender procuration fees and general insurance commissions will be paid directly to AR members by the providers are also offered.