Connect Mortgage Club offers specialist home for non regulated advisers
By Bridging Loan Directory -
Launching its new website for intermediaries, Connect Mortgage Club, part of the Connect Group, has thrown the gauntlet down to other providers with a comprehensive offering for all advisers looking for specialist lending facilities for clients.
However, the major USP on the site is the introduction to the unique new facility for non-regulated advisers to transact BTL, commercial and bridging business by becoming an AR of Connect Mortgage Club’s non-regulated network. Connect’s team can also deal directly with clients who are referred to them for regulated advice and pay competitive referral fees, meaning that brokers can provide a full service for their clients without the increasing financial and administrative cost of direct authorisation or through a conventional network.
Brokers who wish to become authorised need to formally apply to confirm fit and proper status, with full checks being made. Once approved, brokers will gain access to a wide range of products, services and help from the Connect team, which are highlighted on the new site.
According to Head of Operations, Kevin Ward, the service is a lifeline for companies who want to write BTL, commercial and bridging business simply and efficiently and refer clients needing regulated advice without becoming entangled in the regulatory minefield.
He said, “We believe that our service will appeal to those brokers who have decided that the financial and administrative burden of regulation, is not worth the aggravation. The recent failures of large networks like Honister prove just how vulnerable intermediaries are if their principal is financially compromised and direct authorisation does not suit many adviser firms, because of its cost and high maintenance.”
He added “ The added value for our AR’s is that they can refer clients, whom they identify as needing regulated advice, to our in house team, who will provide advice directly and pass on a competitive referral fee on completion. This is a business model, which will suit a lot of intermediaries, who are tired of being let down by the polarisation of financial services advice.”