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Abbey relaunches loan club with new services

Abbey for Intermediaries is relaunching loan club The Mortgage Alliance to cater for directly authorised loan brokers with support services provider Threesixty.

TMA will offer enhanced services and facilities to help intermediaries adapt to regulatory changes as well as a new flexible compliance service tailored to meet the needs of individuals.

The service will be off the shelf so intermediaries will only pay for services they use in a similar way to the support services provider provided by Bankhall.

Prices start from £280, which will supply intermediaries with services such as standard risk assessment and desk support. Training can be added and intermediaries can include other product areas such as pensions and investments.

TMA can also help intermediaries get professional indemnity insurance. It is launching a website in September with information on its new offerings.

It is already working with several big intermediaries such as Lighthouse, Berkeley Berry Birch and Positive Solutions, providing a white-labelled version of its mortgage club which currently has 40 lenders on its panel.

Head Steve Atkins says 4,500 member firms – a mix of IFAs and directly authorised mortgage brokers – use the club in its unbranded form. He expects 40-50 per cent of these firms to choose direct authorisation and says these are the people he will be targeting with TMA&#39s new offering.

Atkins says: “People like TMA because it is not taking principal status. We will be targeting those directly authorised firms which use the club already and I am confident that many of them will be inter-ested – they already have exp-erience of TMA and will like the tie-up with Threesixty which is an established name.”

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