AXA last week announced lthe launch of its mortgage proposition as part of its strategy to become a major player in the UK mortgage advice marketplace.
AXA has applied to the Financial Services Authority for principal status for mortgage and general insurance business written by its tied distribution partners. By taking mortgage principal status AXA will enhance its mortgage support proposition for both current and future partners.
The announcement follows last year's launch of AXA's Mortgage Solutions. AXA believes that under the changing regulatory conditions, it will become increasingly important for advisers to demonstrate that they are providing their clients with well-researched advice, underpinned by the security of fully compliant systems.
Paul Rodgers, head of AXA Adviser Network, says: “AXA is acutely aware of both the financial and compliance pressures that the regulatory changes in the mortgage marketplace will have on advisers. The unveiling of our new mortgage proposition today demonstrates AXA'sintention not only to become a major player in the mortgage market but our commitment to our business partners.
“It is our aim to become the host of choice for advisers operating in the financial services marketplace and the launch of our mortgage proposition is a significant step towards achieving this ambition. By capitalising on AXA's growing distribution, its financial strength, and the breadth of its product proposition across all sectors of the marketplace, we expect to see a substantial increase in the number of distributors that can benefit from our proposition.”