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MCI adds Reliance Bank to panel; Paradigm and TMA boost support for DAs – round-up

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  • 27/04/2020
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MCI adds Reliance Bank to panel; Paradigm and TMA boost support for DAs – round-up
The MCI Mortgage Club has added the Reliance Bank to its panel, as part of aims to increase the number of ethical options available to members.

 

The Reliance Bank is part of the Salvation Army, to which it donates up to 75 per cent of its profits. 

The bank aims to be socially responsible, and says it does this by underwriting cases individually to allow customers with unique circumstances to be placed. 

Phil Whitehouse (pictured), managing director of the MCI Club, said: “Reliance Bank are renowned for their high levels of customer service.  

MCI’s growing membership will be delighted by the opportunities to place more complex cases with a lender that has high levels of customer satisfaction at their heart.” 

Gareth Byrne, head of mortgages at Reliance Bank, added: “We are excited to offer our mortgage range to members of MCI Mortgage Club.  

Our customers tell us that we provide fantastic service, and advisers can be confident that our team will provide their clients with a great customer experience and help them achieve their financial needs. 

 

Paradigm offers DA firms free compliance support 

Paradigm Mortgage Services is offering up to six months’ free compliance support to directly authorised (DA) firms signing up to join the club.

New firms will be eligible for either three or six months’ free compliance support, depending on the length of the contract they sign up to – either two or three years.  

It said it wanted to support firms adjusting to the new way of working as firms had been hit by market changes which affect how they are able to progress with applications. 

All of Paradigm’s existing membership and compliance packages remain available with no contract tie-ins. 

Existing firms who use Paradigm’s compliance services will be eligible to receive a £250 fixed referral fee when they refer other advisory practices to the club under this offer. 

Bob Hunt, chief executive of Paradigm Mortgage Services, said: “We understand the importance of compliance for directly authorised firms, especially at times like these when many aspects of these businesses are changing.  

“We believe this will offer DA firms valuable regulatory protection and financial support when they need it most.” 

 

TMA extends partnership with Eligible.ai to offer retention tool to DAs 

TMA has announced the extension of its partnership with Eligible.ai to offer its members access to an automated customer retention tool, Retain.  

The tool is being offered via a promotion to DA firms across the network for three months.  

Retain gives businesses real-time information on their client base to help advisers keep in touch with and update clients automatically. It also notifies advisers when clients need assistance in switching products.   

Lisa Martin, development director at TMA, said: “It is during times like this when technology becomes a crucial part of a broker’s business and we are confident that the announcement today will be welcomed with positive sentiment across the intermediary community. 

Rameez Zafar, co-founder and CEO at Eligible.ai, added: “During the current climate, the market is having to adapt to new ways of working in a bid to continue to provide a valuable service to clients.   

“We are delighted to extend our partnership with TMA to ensure as many members as possible have the best tools to hand to help them succeed in the weeks and months to come.” 

 

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