Networkone to launch sub-prime membership scheme for brokers

The Cardiff-based intermediary network, which launched its formal offering to the mortgage broking and IFA community at Mortgage Expo in November, is to offer its range of benefits to those intermediaries who are capable of submitting a minimum of just four specialist cases every month.

In return, brokers and IFAs will qualify for free networkone membership, free Personal Indemnity insurance cover; free computer hardware and software; a monthly management consultancy business health check; access to a first class compliance system; and the payment of highly competitive procuration fees.

“There has been significant interest in our network proposition since we went live at Mortgage Expo,” commented Terry Markham, head of networkone. “We have also had some very valuable feedback from intermediaries.

“Part of this feedback has resulted directly in the creation of a membership scheme for those intermediaries that cater for the specific mortgage needs of sub-prime and non-conforming borrowers. We see this as a major boost for networkone and the many specialists who have expressed an interest in joining the network, but were not submitting over 10 mortgage cases a month.”

Prior to unveiling details of its new scheme, networkone membership depended on an intermediary being able to write a minimum of seven prime and three specialist cases every month.

“We have listened to what many potential partners have said to us in recent weeks,” added Terry Markham. “By moving speedily we now have a twin entry system for membership that we believe will be of tremendous appeal to many mortgage intermediaries.

“Our goal is to become a major player in the mortgage market post 31 October 2004 – and we believe this is an important strategic step in achieving that goal.”

Further intermediary incentives, road shows - and major new networkone marketing campaign – will be officially unveiled in the early part of 2004