The AXA Adviser Network has upgraded its mortgage offering, Mortgage Solutions, in light of imminent regulation.
Mortgage Solutions will also now offer access to a panel of non-regulated term and critical illness providers via Bankhall Point One, to complement its own suite of protection products. This will sit alongside its mortgage panel managed through distributor Mortgage Next.
The network has also developed a customised version of Trigold”s Prospector Plus point of sale and documentation software which it will offer to its members.
Steve Jenkins, sales director at AXA Adviser Network, said: “This is predominantly designed to accelerate the expansion of the AXA Adviser Network and to sell more of our own protection business through those distributors. In order to attract distributors, we need a competitive mortgage proposition.”
He added: “At the moment this is a pre-mortgage regulation offering. We have not said whether we will be adopting principal status under regulation, that decision has not been made. We are setting up to give brokers the ability to manage their own risk with respect to mortgage products, as principals, but clearly that will be under review in light of regulation.”
AXA currently charges £500 pa for registered individuals (RIs), and appointed representatives, who are tied to the network. Since its launch at the beginning of the year the network has attracted 300 RIs and post-regulation, the network expects to double that capacity.
Members of the network will also receive preferential rates on professional indemnity insurance through a deal arranged with specialists PYV.