Mortgage News
Brilliant Mortgages enjoys member surge
Brilliant Mortgages – part of Exclusive Connections – has revealed its membership “rose sharply” in the weeks following its national roadshows, with new members signing up at the rate of 200 per month.
Brilliant said it had now doubled the size of its membership and attributed the increase to “significant improvements” in its core proposition, particularly its decision to pay procuration fees at the moment of completion.
Matthew Arena, managing director of the firm, said the whole concept of a mortgage club needed to be refreshed to meet the new circumstances facing intermediaries.
He explained: “As soon as we had reviewed the business model we had acquired, we made the decision to confirm that procuration fees would be paid on the day of completion. We believe that this is a fundamental change which all clubs and networks need to adopt and intermediaries have responded very positively.”
“We have also expanded the lending panel and brought in new services such as insurance, debt management and savings, which members can now access all in one place.”
Industry, not regulation, must lead later life lending change
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