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4,500 advisers sign up for Sesame loan and insurance arm

Sesame has 4,500 advisers signed up to its mortgage and general insurance arm ahead of industry regulation on October 31.

The company was aiming for 5,000 advisers ahead of M-Day but says it is more than happy with the take-up so far, with two months to go.

The majority of the adv-isers were already Ses-ame members while many previously used mortgage clubs.

The network says these members will now place their business through Sesame to take advantage of enhanced lender procuration fees.

Sesame product manager for mortgages Andy Young believes size will be crucial for major players in the mortgage market going forward and will drive the best procuration fees, service standards and mortgage schemes for members.

Sesame announcement follows rival Bankhall&#39s deal for 7,000 broker members through the purchase of Norwich Union&#39s mortgage club to add to its own and Prudential&#39s mortgage club.

Young says: &#39Mortgage companies are going to need size and scale to drive their businesses after regulation.

“This is a huge opp-ortunity for us to grow here. We are best placed with the lenders and will continue stealing market share.”


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