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Pink and BDS networks set to merge

by: Mortgage Solutions
  • 04/04/2011
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Pink and BDS networks set to merge
BDS and Pink will be consolidated into one network under the Pink Home Loans brand and all former BDS advisers will now become part of Pink.

Pink, which LSL Property Services bought for £1.59m in October, acquired BDS Mortgage services in February 2008.

All advisers will come under the Pink umbrella, while the BDS brand will be kept as a packager, carrying out front-end processing for lenders.

David Copland, chief executive of Pink Home Loans, said: “There has been an overwhelmingly positive response to the new proposition and the support from our life panel providers.

“We have also talked to the ARs of BDS about the proposed bringing together of the two networks. The feedback has not about whether becoming one network is the right decision, but rather when it will happen.

He added that since Pink acquired BDS, the two networks have come closer together both in terms of proposition and regulatory supervision.

“The BDS brand will not be lost, and will continue to provide packaging support to the combined network and outsourced front end processing to existing and new mortgage lenders.”

The FSA has been informed of Pink’s intention to change the regulatory permissions for BDS however this is still subject to their formal approval.

Pink is also launching a new life assurance panel, offering more levels of training and increased support to its members.

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