You are here: Home - News -

Inter Alliance mortgage club leads sea change in distribution market

  • 15/01/2003
  • 0
The Mortgage Alliance is set to provide for advisers who do not wish to process mortgage business themselves

Inter Alliance today sent out registration forms for its planned mortgage club to around 400 of its qualified mortgage advisers. The intermediary’s mortgage referral service went live last week.

The club, The Mortgage Alliance, is a joint venture with Scottish Provident, but will be branded under the Inter Alliance banner. It has a panel of over 20 lenders, including Halifax, Nationwide and Cheltenham & Gloucester.

Janine Menasakanian heads up the club. She said: ‘We have never had a mortgage proposition before and many of our advisers go through other clubs or refer business to other advisers.’ Although she said the club would initially be for Inter Alliance advisers only, she said considerations to roll it out were underway, although no timetable had been set. Those using the club will also be given free access to the Trigold sourcing system, and various exclusive products.

Stuart Wilson, mortgage development director for Inter Alliance, heads the referral business, Inter Alliance Mortgages Ltd. It will provide for all Inter Alliance advisers who do not want to process mortgage business. He said advisers would be paid up to £250 per case (name and contact number) they referred, which compared more than favourably with fees of up to £400 they might make for eight to ten hours processing a case themselves. Although around 70% of advisers did not want to take on mortgage business, he said that the referral payments would prove an attractive proposition. He said the referral service would only deal with mortgages, and so advisers would not lose the surround business of providing the clients with other financial products.

The referral service will be run by what was, a company set up by Wilson in May 2000 and bought by Inter Alliance in December last year. It comprises eight staff based in Gloucester, and further recruitment will take place as is necessary. Wilson said: ‘We are rolling the service out to the 17 regions Inter deals in, incorporating over 1000 agents, and are in the process of telling them what we do and providing them with information through regional presentations.’

He said: ‘In 18 months, I aim to be the biggest mortgage vehicle in the industry.’ He added: ‘There will be a mass sea change in the distribution market. Lenders have no clear vision of their distribution networks and there are no true statistics on the number of advisers with many retiring or deciding to quit the market.’ He said the critical mass Inter Alliance would be able to bring would be an attractive proposition for lenders.


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Concerns raised over house prices indexes’ methodology

The House Builders Federation (HBF) has questioned the methodology used in the various UK house pric...