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&#39Compete with Charcol&#39 call to new e-brokers

IFAs are being offered the opportunity to create their own rival to

charcolonline with a white-labelled mortgage application website from

Mortgage 2000.

But the company&#39s tag line – “Become a charcolonline or E-loan” – is

being challenged by John Charcol.

Mortgage 2000 is offering IFAs a bespoke version of its site, which allows searches across every mortgage

product in the market, to use on their own-branded websites.

The service, which aims to have 10,000 users by the end of the year,

offers online application forms pre-populated with individual brokers&#39


IFAs receive commission from any business conducted by a client online,

while Mortgage 2000 take a one-off fee for any transactions.

Mortgage 2000 chief executive Simon Nixon says: “We have given IFAs more

comprehensive tools than Charcol. I would imagine most people would prefer

to do business online with an IFA in their local area rather than a distant

John Charcol representative.”

But John Charcol managing director Ian Darby says: “Some IFAs will see it

as a conflict as the site already goes directly to consumers. We have kept

it clean and have not white-labelled our proposition for anyone else.”

But some brokers have reacted positively to the move, believing the

£35 monthly fee will be a good investment for intermediaries.

London & Country Mortgages senior manager Patrick Bunton says: “So long as

the commission goes to the IFA, I think it will be quite successful. You

would not have to do that much business to get your money back.”


Law firm targeting IFAs with partnership deal

Chancery Law Group is setting up Partnership for Profit, a legal supportservice aimed at opening new business opportunities for IFAs.The firm hopes the service will create a legal platform for IFAs to helptheir clients get to grips with legal financial planning issues, includinginheritance tax.Chancery Law hopes advisers will pass on details of the firm to […]

National Savings rolls on to pass Spam test of time

National Savings is marking the 25th anniversary of the introduction ofindex-linked savings by comparing how life has changed since 1975.A National Savings statement says: “Back in the summer of 1975, Bay CityRollermania was at its height and the nation loved nothing more thansettling down with a Spam sandwich in front of Crossroads before headingout for […]

Edinburgh trust&#39s promotion drive to 6,000 advisers

Edinburgh Investment Trust is striving to forge new links with IFAs.The trust is promoting itself on the back of recent past performance whichhas seen it return 15 per cent growth in the last year, beating itsbenchmark by 7.6 per cent.A letter outlining thefund has been sent to the 6,000 IFAs who are membersof the AITC&#39s […]

Sam Jensen

When Gartmore. Jupiter, M&G and Threadneedle announced plans for a fundsupermarketto rival Fidelity, they could hardly hide their glee that theyhad poached a former Fidelity man to head the project.As chief executive of Consolidated Funds, the new fund supermarket, SamJensen says he will be combining the best of US and British ideas in theventure.Starting projects […]


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