Leeds becomes Mortgage Next passport panel lender

The Leeds has announced its support for Mortgage Nexts passport initiative, launched in September this year, by becoming a passport panel lender.

The scheme provides directly authorised brokers with a range of benefits including product exclusives, AirMiles, free Mortgage Brain and Trigold subscriptions, access to a vetted panel of lead generation companies, white label website facilities, preferential rates with Goldsmith Williams Solicitors, educational workshop and marketing support and a car leasing scheme.

Martin Maynard, managing director at Mortgage Next, says: “Were delighted that a leading lender such as the Leeds has given the passport initiative its support by becoming a panel lender. Passport has been designed to deliver genuine added value to the DA market and propel Mortgage Next ahead of other mortgage clubs which have simply adopted a sticker and submit approach. We look forward to working closely with the Leeds and enhancing the passport proposition still further.”

Jeff Kirk, corporate relationship manager at Leeds, adds: “Its good news to see organisations such as Mortgage Next looking beyond a simple product and pricing proposition. Brokers need help to build their businesses in a tough market and passport offers genuine benefits.”

With the passport scheme, brokers receive 145 AirMiles for each standard completion and 290 AirMiles for each sub-prime and packaged case that completes, after the first two cases each month. The first 1,000 brokers to join Passport will also automatically receive 450 AirMiles.

Membership of the passport scheme costs 100 a year, which will be deducted from the brokers first proc fee payment after joining. If brokers submit 24 completed cases a year, the membership fee will be waived the following year. Brokers can continue to use Mortgage Nexts club facilities without joining passport, but will receive none of the passport benefits on offer.