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  • 08/05/2002
  • 0 is to allow mortgage advisers exclusive rights to receive its leads from consum... is to allow mortgage advisers exclusive rights to receive its leads from consumers residing in their local postcode areas, through the creation of 320 national territories.

Until now the company passed leads generated from the internet to broker Interalliance. But due to high volume as a result of internet companies signing to white label mortgage sourcing tools, it has decided to create an organisation of small to medium-sized advisers called the Professional Advisor Alliance. said its 170 partners generate over 150 leads a day, worth an estimated £6.2m a year in commission ‘ a figure it expects to increase dramatically in 2002.

Stuart Glendinning, mortgage director at, said: ‘The internet is a phenomenal research tool and we have overwhelming evidence showing the public is logging on to research deals. But the public wants to speak to someone before making the decision to apply, which means there is still a huge under-exploited opportunity for advisers to service those using the internet.’

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Correspondent lending might still be in its infancy in the UK but the scope for growth is definitely out there