Paradigm Consulting is to launch a mortgage outsourcing service for IFAs disillusioned with the mortgage industry.
The service is designed to remove compliance, indemnity, and extra network costs. The danger of losing other investment and pension business from clients through not offering a mortgage service is reduced, as insurance is referred back to the introducing IFA.
According to Paradigm, 30% of IFAs are considering pulling out of mortgages due to regulatory costs, and 43% would consider outsourcing their mortgage business to a reputable third party.
Chris Fleetwood, director of Paradigm, said: ‘Many IFAs are concerned about costs so they can stay abreast of industry changes ‘ which is where Paradigm helps. IFAs can outsource mortgage clients to Paradigm and be secure in the knowledge that the client has access to a full advice service and the client remains a valuable asset for the introducing IFA.’
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