Comprising of Alexander Hall, Chase De Vere Mortgage Management, Cobalt Capital, Hamptons International Mortgages and Savills Private Finance, the move has been designed to negotiate improved products and service agreements to the benefit of clients. Compliance, product design and IT platforms will be shared amongst the five brokerages, with lenders able to obtain a single point of contact. As a result of the alliance, Concordia hoped to provide a simplification of product ranges and allow lenders to obtain a better understanding of the high net worth broker market.
Concordia confirmed it expected to have a combined distribution total of over £10 billion in 2007, positioning the organisation as the premier distribution channel for high value loans in the UK.
Melanie Bien, associate director at Savills Private Finance, said: “The aim of Concordia is to negotiate better rates for our clients. Concordia will be able to negotiate better with the lenders than individual brokers can on their own. Members will continue to have their own exclusives and rates, and continue to put the needs of clients first and foremost,a nd each broker is individually regulated. Concordia will add benefit rather than have a negative effect.”
Paul Hunt, head of marketing at Platform, said: “Concordia is an interesting development and combines some of the biggest players in the City market. We look forward to looking at how we can support the proposition.”
