Beacon may already be in IMLA fold

Rumours are rife that Beacon Homeloans has been accepted into the fold of the Intermediary Mortgage Lenders Association.

Beacon was launched earlier this year by the enigmatic Mark Abbott, former Future Mortgages chief executive, and sales maestro Brian Pitt.

The Beacon Group also consists of IFA, Beacon Asset Management and packager Beacon Mortgages.

Its distribution and sub-prime business is run exclusively through the Regulatory Alliance of Mortgage Packagers, whose members include some of the biggest names in the packaging industry.

Pitt declined to comment as to whether Beacon will be joining IMLA, which represents the views and interests of lending institutions involved in the generation of mortgage business via professional financial intermediaries.