NetworkOct 27 2016

Challenger mortgage network claims to be fastest grower

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Challenger mortgage network claims to be fastest grower

The Right Mortgage & Protection Network has seen its turnover grow to £1.2m a month.

The West Midlands-based company gained FCA authorisation in February 2015, starting with less than 20 members.

It has since grown to nearly 300 and has plans to achieve 400 by the end of this year.

The network now claims to be growing faster than any of its competitors. 

It was started by former Personal Touch chairman Martin Wilson, who is its chief executive, as an independent network.

At the time of its launch Mr Wilson explained that in particular the network will fulfill a transitory role and assist advisers seeking to become directly authorised, following which it would continue to offer compliance and other support services.

Earlier this year it appointed mortgage distributor 3mc to provide a specialist mortgage desk and packaging support services to members.

In May it switched to paying commission on a weekly basis, rather than every two weeks after feedback from its advisers.