In your letters pages in the May 28 issue, Justine Tomlinson of Mortgage Next says size doesn’t matter as much as quality. Ho hum, where do I start?
Of course, the headline on her letter refers to network size, so I should not digress.
But the letter consisted largely of a diatribe against Network Data and in many respects it answered its own questions.
So why write it? A bit of free publicity, envy at Network Data retaining its number one position in the quarterly league table of mortgage networks, or was it frustration at the failure of Mortgage Next to move up the table for the past two years?
Looking at the specifics, let’s start with the proposal to include IFA networks in the league table – music to the ears of Dev Malle and certainly an effective way of knocking Network Data off the top spot.
I propose that Mortgage Strategy conducts a straw poll and asks ‘Should IFA networks be included in the quarterly league table of mortgage networks?’ It would be interesting to see the results.
Tomlinson talks about Network Data’s appointed representative numbers being dwarfed by the likes of Sesame and Openwork. I would remind her that Sesame was created as a result of Misys purchasing five IFA networks, including the largest, DBS, and blending them into one.
Openwork is the largest remnant of the once mighty Allied Dunbar empire. Our financial resources are not in the same league and we would be flattered to be ranked alongside such a giant.
Tomlinson concludes by pointing out that as we are a public company, our accounts are open for analysis and says she looks forward to “giving the figures a good going over”.
Quel dommage, as Del Boy would say (and no, I don’t know what it means either).
Network Data Holdings