Top networks show significant change

A poll of over 200 financial advisers indicates that significant membership distribution changes have taken place between nine of the largest mortgage networks over the last six months.

Conducted by Paragon Mortgages, the survey shows Openwork has enjoyed particular success since its launch, and although many of its members are former members of the old Zurich Advisory Network, figures indicate that the group has seen strong growth.

Mortgage Intelligence, which has seen support triple since March this year by tailoring services to the new regulatory environment.

Sesame remains the leading network with a quarter of respondents being members. However, although the network has an obvious strength in the market, it has experienced an 11.6% decline in support over the last year.

John Heron, managing director of Paragon Mortgages, says: Our report indicates that over the last year, and in particular the last six months, there has been a marked shift in support for mortgage networks.
Since regulation, the shape of the UK mortgage industry has changed and there seems to be a rise in support for small mortgage networks that offer specific expertise and put an emphasis on service to advisers in the wake of these changes.