Paragon Mortgages has revealed its plans for self invested personal pensions in a bid to head off industry rumours that it might cut its panel of eligible introducers.The buy-to-let specialist lender says as an expert in the field it will have strict controls in place so only those qualified and able to provide expert advice on SIPPs will be able to introduce to Paragon. But this does not mean it will be cutting the number of introducers it deals with, as one broker complained they had heard Paragon was planning to do. John Heron, director of mortgages at Paragon, says: “We’re bringing a range of products and services to the market but we have some concerns about the level of knowledge out there at the moment.” Heron says this is not necessarily the fault of the industry and that the quality of information published by the government about SIPPs has been poor. He adds: “We have concerns about the level of knowledge of both customers and brokers. We don’t want to make SIPP mortgage advances to people who are not fully informed. “In no way are we seeking to cut people out, but we’re drawing a line. We will not allow any of our brokers access to products unless they’ve had access to all the information we have published and can show to our satisfaction that they have seen all that information.” Regular information on SIPPs will be available on Paragon’s website and a service is now available whereby brokers can sign up for extra updates. It is also putting the finishing touches to a publication on everything you need to know about SIPP mortgages.
- Top trends
- Top trends
Kensington’s online facility has been commended by intermediaries for its innovative ways of producing applications, decisions in principle and Key Facts Illustrations. The firms says the system, which was launched earlier this year, is hailed by brokers as a little-known industry treasure, as it provides brokers with flexible access and end to end support.
Specialist lender Money Partners has joined the Association of Mortgage Intermediaries as an associate member. Colin Sanders, CEO of Money Partners, says: “This completes our objective of joining the industry’s three principal trade bodies. Coming as it does ahead of our first anniversary, it confirms the progress we have made from a standing start on […]
Mortgage Express today announced the internal appointment of Tim Sturley as head of mortgage distribution.Sturley, currently head of business development, is replacing Cammy Amaira who is leaving Mortgage Express after 29 years working with the Bradford & Bingley Group, effective November 4 2005. Sturley will be assuming many of Amairas existing responsibilities although the new […]
Target, one of the first companies to offer software to help run mortgage businesses, is still producing useful web-based products for the marketplace, says Frank Eve
Indian equities have officially re-entered a bull market, with the benchmark index climbing to a 11-month high. But this is just the start, argues Neptune head of Indian Equities Kunal Desai. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating and past performance is not a guide for future […]
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