Stonebridge Group has established a new mortgage packager panel for its appointed representative firms to use.
The mortgage and insurance network has selected a panel consisting of All Types of Mortgages, Complete FS and 3mc; which will provide packaging services for first-charge residential and buy-to-let business.
These three firms had to complete a due diligence assessment which covered business partner feedback, lender choice and product access (including exclusives), capacity to support the network nationally, service standards (including customers’ best interests and TCF), fee structure, commission levels, reporting systems, IT functionality and financial strength.
The mortgage packager panel runs separately from Stonebridge’s specialist lending panel, where AR firms and business partners can pass lead referrals for second-charge mortgage, bridging and commercial business to four master brokers/packagers: The Loans Engine, Omega, Positive Lending and Touchstone.
Paul Nye, business partnerships director at Stonebridge Group, explained earlier this year AR firms were consulted on the establishment of a first-charge residential and buy-to-let mortgage packaging panel.
“We wanted to get a strong idea of the firms our ARs were already using, how they rated them and whether they had the key components to be included on our panel to provide such services across the entire group,” he stated.
“We received plenty of feedback and after some considerable due diligence, plus an intensive process of analysis, we felt that AToM, Complete FS and 3mc were head and shoulders above their competitors.”
Just last week, Stonebridge launched a new proposition for directly authorised advisers, Stonebridge Genus, letting DAs ‘pick and mix’ life and general insurance panels, a choice of mortgage club, conveyancing, will writing and surveying.
This followed the development of a property survey service in partnership with SDL Risk Management in May.
The Essex-based network revealed it had increased its adviser numbers from 203 in 2014 to 404 by the end of 2015.
Managing director Richard Adams commented: “As 2015 progressed we saw a considerable increase in the number of advisers within the group and we anticipate this will continue into 2016, albeit at a slower level.”
peter.walker@ft.com
