Mortgage 2000 Financial Group's independent mortgage network, m2i, has confirmed that it will extend its introductory offer to pay both the MCCB registration fee for the sixth month renewal period from 1 May - 31 October 2004, and the initial application fee for direct authorisation with the FSA for intermediaries. m2i will pay these charges within the membership fee, saving intermediaries over £600.
m2i has proven to be a market-leader on both it's network proposition and on price. With membership fees from just £199 per month, m2i is also the only independent mortgage network to offer this introductory savings offer too. m2i is designed to meet the needs of brokers that choose to be directly authorised by the FSA and offers a comprehensive package including full compliance support, the Encore sourcing system incorporating the MTE, lender partnerships, soft-packaging, free leads and a white labelled website.
Sean Hornsby, Managing Director of m2i, said "It seems evident that many intermediaries are basing their decision of which network to sign-up to primarily on cost. However, although this is undoubtedly an important factor, what the network is offering and, thus what they are getting for their money, is just as important.
"m2i is a comprehensive package which supports those firms choosing direct authorisation that at present, no one else can offer. We charge a competitive membership fee whilst still providing a full and all-embracing package plus, for a limited time, we will pay the £600 registration fees for the intermediary."
Key features of m2i include:
A full compliance framework and regulatory support
Intermediaries will have access to the compliance support and advice of the team, headed by compliance director, David Payne, former operations director of the Mortgage Code Compliance Board (MCCB). Benefits include managing intermediaries FSA application for authorisation, routine compliance checks and visits, helping with the Approved Persons Regime, plus ongoing training and competence.
Technology
m2i utilises the Mortgage 2000 "Encore" sourcing system, which incorporates the Mortgage Trading Exchange (MTE), as well as "Adviser Office" from 1st Software. The two systems have been combined to provide a complete client database management system, a compliant sales process, audit trails, and pre-population of data, which means information is keyed only once. Both systems are provided within the membership package.
Lender partnerships
While directly authorised firms automatically have freedom of choice within the market, m2i members will also be able to utilise the m2-mortgage club, one of the largest lender panels in the country with over 50 lenders, providing exclusive products, enhanced procuration fees, and electronic trading facilities. In addition 20 lenders are accessible through Mortgage 2000 Design and Processing (m2-d&p), one of the top packagers within the country, and applications can be submitted electronically from the "Encore System"
Soft packaging
This recently launched state of the art technology is exclusively available to m2i members. This online system guides you through lender specific criteria, enabling intermediaries to 'process' client cases up to offer stage and on average will produce additional revenue in excess of £250 per case, for intermediaries who use the system
White labelled website
Each m2i firm can receive a white labelled version of the UK's top personal finance website, moneysupermarket.com, which has over 20 finance channels including secured and unsecured loans, credit cards, various forms of insurance, and even utilities. The members' version of the site will be fully branded with individual company logo's and contact details, and commission will be paid on transactions placed through the site.
Free mortgage and term assurance leads
m2i members will also be entitled to receive free leads from the Professional Adviser Alliance. These leads are generated from the leading internet sites in the UK and research has shown that over a 2-3 month period, 44% of the leads result in an application.
Other benefits
Also included within the m2i package, is access to a range of general insurance partners, marketing and promotional support, ongoing training facilities, a loans panel, conveyancing, life insurance providers, and commercial loans.
The m2i membership fee is dependent on the number of advisers within a firm, but starts at just £199 per month.
To find out more information:
Email: [email protected] or call 01244 665 700.
Alternatively log on to www.mortgage2000.co.uk.
