Big five combine forces to form Concordia

Five of the UKs leading independent mortgage brokers have joined together in a strategic move to co-ordinate their relationships with the UKs major lenders.

The newly-formed alliance is called Concordia and comprises Alexander Hall, Chase De Vere Mortgage Management, Cobalt Capital, Hamptons International Mortgages and Savills Private Finance.

By combining their volume of lending and experience, Concordia will negotiate improved products and service agreements to the benefit of new and existing clients.

Additionally, the businesses will share best practice in areas such as compliance, product design and IT platforms.

It says that lenders will gain from a single point of contact, simplification of product ranges and a better understanding of the high net worth intermediary market.

Combined distribution in 2007 will exceed 10bn, immediately positioning Concordia as the premier distribution channel for high-value loans in the UK.