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Nottingham joins SimplyBiz mortgage panel

Nottingham joins SimplyBiz mortgage panel

From today (2 September) Nottingham Building Society will feature on the SimplyBiz Mortgages panel of lenders.

All members will have direct access to the full range of products from Nottingham, as the lender continues to increase its strategic relationships.

Martin Reynolds, chief executive of SimplyBiz Mortgages, said they have been in discussions with The Nottingham for some time in relation to their strategic growth.

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In August, Simplybiz reported in the last 18 months 81 firms have joined from Sesame, with 17 moving across during this year alone, following the network’s closure at the end of March.

The network stated in the spring that it would no longer house investment advisers, blaming a Retail Distribution Review-inspired “natural migration” towards direct authorisation, which challenged the “basic premise of the network model”.

Earlier today sister newspaper Financial Adviser reported Sesame Bankhall Group executive chairman John Cowan promised that his newly slimmed down business will not be “playing the numbers game”.

He said it would be more important for his network to have “deeper” relationships with its advisers than to have large numbers of them.

Mr Cowan was speaking in a week when SBG revealed that most of the advisers who left its AR network when it closed last month either went directly authorised through Bankhall or moved to preferred partner Intrinsic.

He said: “What I have learned out of all of this is that the time when networks say to each other ‘we’ve got a bigger one than you’ is over.”

emma.hughes@ft.com