Pink Home Loans has launched a Perfect Partners campaign in association with Colonial Secured Loans to assist brokers with secured loan inquires.Pink is giving brokers registered with them and who use Colonial a voucher for six bottles of quality wines with their commission payment when their first case completes. The campaign runs from June 5 until the end of August. Dev Malle, sales director at Pink, says: “Professional brokers do not necessarily need to turn clients away when a mortgage may not satisfy their requirements or indeed when it is unsuitable for the clients’ circumstances. There are situations when a secured loan is the most suitable product and it can help win further client loyalty. “This campaign is aimed at encouraging intermediaries to look at this option as part of the product range available to them as a recent Pink 1000 index Survey revealed that only 50% of brokers consider secured loans as a product option.” Mark Fry, managing director of Colonial, says: “Over the last five years, the secured loans market has grown by 50% year-on-year. Consumers are generally better informed about their options and intermediaries need to satisfy themselves that they are adhering to best advice principles.
Nationwide has made changes to its fast-track rules. Now all applications for loans under 50% LTV are guarenteed to be fast-track if they pass Nationwide credit scores.
The Association of Mortgage Intermediaries has welcomed confirmation that the compensation and eligibility limits for the Financial Services Compensation Scheme and for the compulsory jurisdiction of the Financial Ombudsman Service will remain at their existing levels. Rob Griffiths, associate director at AMI, says: “We are pleased that no change has been made.”
Norwich Union has revealed that it is planning to launch a drawdown product within the next month. Brendan Kearns, propositional development manager at NU, says this is an area the group is looking into and hopes to enter in the near future. He adds: “We see a lot of value in drawdown products and would […]
Although it is an important statistic, the proportion of mortgage business originated by intermediaries has long been more a matter of guesswork than mathematics but now the truth can be revealed, says Richard Griffiths
By Kunal Desai, Manager of Neptune India Fund Kunal Desai recently celebrated his third anniversary as manager of the Neptune India Fund. Kunal has built a strong track record of outperformance since he assumed responsibility for the Fund, delivering a return of 30.3 per cent compared to the MSCI India Index gain of just 14.0 […]
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