Moneysupermarket.com is transferring its mortgage club as part of a cost cutting exercise within the group.
No details have been released as to the terms of the purchase. But it comes on the back of Moneysupermarket.com’s announcement that it was considering the options of its intermediary business. Moneysupermarket.com had already disposed of the Mortgage 2000 Encore system at the beginning of the week.
But Exclusive Connections’ managing director Matthew Arena, says that the acquisition will be a very good fit, offering improved services to existing Exclusive Connections members and to brokers that use the Mortgage 2000 Mortgage Club.
He says: “We shall benefit from the lender relationships the club has, which will in turn have a beneficial effect on the extra breadth of services our own members are able to offer to their broker clients and in turn the general public.
“Existing broker supporters of the club will notice no difference in standards, but they will benefit from knowing that the mortgage club has a secure future with all the features they are used to, such as exclusive products and market leading procuration fees.”
Nicola Haworth, head of Mortgage 2000, says: “The most important thing for us when looking at successors for our mortgage club was that our lenders and intermediary supporters were taken care of.
“Exclusive Connections has a long and successful track record in the mortgage industry and we’re sure the club will prosper in their care.”