The club, which is free of charge to all users whether they are members of the PTI network or outside it, offers enhanced procuration fees and two levels of membership.
The Mortgage Executive package is available to all members of PTI using PTI’s own MCCB number and provides a range of benefits including free PI insurance; free MCCB registration fees; free training and compliance support; and a free mortgage sourcing system. Membership of PTI is also free
The Mortgage Select package is available to all non-members who can access the PTI panel by using their own MCCB number. This service provides direct submission to over 70 prime and sub-prime lenders as well as the packaging arm provided by E M Financial.
Panel Lenders in the initial launch include: Abbey National, Virgin, Cheltenham and Gloucester, Woolwich, Chelsea, Staffordshire, Prime Home Loans, Abacus Mortgages plc, Standard Life Bank and Intelligent Finance. PTI expects to announce a major extension to this Panel in the very near future.
Commenting on the launch of the Mortgage Club, PTI Managing Director Mike Allison said; “We are on target to complete £1 billion worth of lending this year and we have been working closely with our key trading partners to develop their business at minimum cost to themselves. This move, in addition to our recent partnership deal with mortgage packager E M Financial, underlines PTI’s commitment to enhancing its mortgage business offering for all intermediaries.”