Home of Choice is in talks to acquire smaller networks and says it has recruited a well known industry figure to help design exclusive mortgage products.Richard Coulson, managing director of Home of Choice, predicts the network will double its current 1,100 applications in the next three years, to over 2,000. He says it has appointed a mortgage product developer and details will be realised this Tuesday. Coulson has not ruled out acquiring smaller firms and says the company has been in talks with a couple of floundering networksHome of Choice will soon have well over 1,000 specialists on board, just three months after starting trading, including some 500 appointed representatives and 600 directly authorised firms. Coulson says the target is to become the leading mortgage distribution brand, and when its 1,100 applications are processed Home of Choice will be the second largest mortgage network. He expects to see a surge in applications at the end of November, once his court battle with Zurich is over. Of Home of Choice’s 1,100 applications, only 12 are ex-Openwork appointed representatives. Coulson says he is surprised that Home of Choice’s proposition has attracted 600 DA firms. But despite the early success of the network Coulson says it will not move into other areas of financial planning, and will maintain its focus on mortgages. He says: “One of Home of Choice’s benefits is that it has no tie-ins. We are transparent and invite our members to come to us with comparisons with other networks if they are offering a better deal.” He adds: “Our single-minded focus will be attractive to many mortgage introducers who are unsure of where their interests will best be served. “Talented specialists will benefit from joining Home of Choice, whether part of a general financial services network, still deciding which network to join or one of the many who, since applying for DA status, are finding it too onerous and are seeking a more profitable way of conducting business.”
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Mortgage 2000 has launched an exclusive product from Leeds. It is a 100% mortgage at 5.72% fixed for five years with no upfront fees. The product will be available via a number of channels including m2-mortgage club, m2-d&p and Casemaster.
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The Woolwich is launching a lifetime tracker range which includes a offset deal at 0.59% above base rate (currently 5.09%) on November 2. Alongside the offset deal it will also provide all new fixed rate mortgages with a built-in lifetime tracker to give borrowers a guarantee for life after their fixed rate period ends.Andy Gray, […]
Advice and distribution firm Origen has become the first company to sign up its entire mortgage team for the Institute of Financial Services advanced mortgage advice qualification Advanced CeMAP.The seven-strong Origen mortgage team, headed by Wayne Gibbs, was formed in February 2005. Its team of mortgage brokers are spread across Origen’s branches in London and […]
After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.
In the video, Martin addresses the following:
• Structural features supporting the UK economy
• UK mid-caps and the potential for M&A activity
• Valuations and opportunities in house builders
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