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Former Paymentshield boss takes role at 3XD

Rick Riding has joined fellow ex-Paymentshield directors at 3XD, where he has been appointed non-executive chairman.

Riding, who was founder, director and chairman of Paymentshield, left the company in 2004 following a management buyout.

Since then, a number of brokers have voiced concern about Payment-shield’s adjustment to its trail commission proposition.

3XD was established by David Full-uck and Riding’s sons, Michael and Gareth.

It claims to guarantee brokers trail commission regardless of whether they retire or change career.

Brian Melling, mortgage broker at Mortgage2Move, says: “This appointment will attract brokers. We’ve been having problems with commission from Paymentshield for years.”


Godiva enters equity release

Brokers have heralded the dawn of an equity release remortgage market following the launch of early repayment charge-free lifetime deals by Godiva Mortgages.Coventry’s intermediary brand’s range offers lump sum and drawdown mortgages without ERCs.The lump sum products include a 6.45% fixed rate deal for the life of the mortgage with a £595 arrangement fee and […]

Quotas for packagers good idea, says TMB

Nigel Payne, managing director of The Mortgage Business says lenders that pull products at the last minute should consider offering packagers quotas.Payne says that he sympathises with packagers, but in many cases it is not possible to give a large amount of notice when pulling products. He says: “I think the idea of introducing quotas […]

MAB launches POS system

Mortgage Advice Bureau has launched its MIDAS point-of-sale system following a successful pilot. It analyses lead generation sales results and sources mortgages while monitoring case administration and compliance.


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