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Payment date for Network Data ARs will not be met

Network Data appointed representatives have been told that an upcoming payment date will not be met on time, with no word on when commission can be expected.

An email from the Network Data commissions team was sent to ARs yesterday, a copy of which has been seen by Mortgage Strategy.

The document says that the backlog on commissions is being dealt with “in as structured way as possible.”

It says: “We recently identified a problem which meant we were unable to meet the timescales and payment dates previously promised.

“As a result we are unable to confirm that your payments will be processed in time for payment on April 3 and because of the backlog we are unable to confidently confirm a new payment date in case we are unable to process in time.

“Please be assured that we are continuing to make payments weekly and as soon as we can confirm a payment date that we are confident we can achieve then we will of course be in touch.”

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