As well as deals with double glazing firms and accountants, Kelly has set up agreements with bankruptcy practitioners, estate agents and solicitors.
The deal includes a three-page legal document setting out the firm’s responsibilities as introducers.
“We have very strict contracts which have been drawn up by our legal people to ensure our introducers behave compliantly and their clients are aware the firm will be receiving a fee if a mortgage is completed,” Kelly explained.
Kelly added that in the case of double-glazing firms his introducers had clients in desperate need of new windows who could not afford for the work to be done.
“In these cases a remortgage might be the answer to the problem,” he said. “For accountants it is a way of offering an extra service to their clients.”
Frank Thurlby, head of compliance at Genesis, said that with the changes in the rules brokers had to be more innovative in the ways they generated leads.
However, he warned firms to ensure they knew how their leads were generated, particularly if they came via introducers.
“If the lead originates from a doorstep cold-call the broker could get into trouble. Basically firms need to ensure they have the client’s consent before they contact them,” he said.
