Your IndustryMar 23 2018

Mortgage network claims to have lowest PI excess

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Mortgage network claims to have lowest PI excess

The Right Mortgage & Protection Network has reduced the professional indemnity insurance excess for its members.

The reduced excess is now only £1,000, which the network claimed was the lowest in the UK network space.

Martin Wilson, chief executive of The Right Mortgage & Protection Network, said: "Our business depends on the continued mutual partnership with our members, treating them as our customers and treating them fairly is the culture we are committed to.

"We hope our members see this as another value added benefit from The Right Mortgage and Protection Network."

The network has more than 300 member firms across the UK and is jointly owned by its four directors.

Last year its parent company, The Right Mortgage Ltd, almost doubled its profits and turnover in its second full year of trading.

The company, which comprises The Right Mortgage & Protection Network and The Right DA Club, posted a pre-tax profit of £405,000 for the 2016 to 2017 tax year – up from £203,000 the previous year.

damian.fantato@ft.com