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Concordia agrees first exclusive with IF

Broker alliance Concordia has agreed its first exclusive deal following its launch last November.

It has linked up with HBOS-brand Intelligent Finance to provide exclusive offset products. Concordia is also in talks with a number of other lenders about securing exclusive deals for customers of its five broker members Alexander Hall, Chase de Vere Mortgage Management, Cobalt Capital, Hamptons Mortgages and Savills Private Finance.

The product is an offset tracker until June 1, 2009 at 0.4 per cent below base rate, then reverting to base rate plus 0.95 per cent, with an arrangement fee of £2,500. The minimum loan is 200,000.

Money Marketing revealed last year that HBOS was likely to be the first lender to commit to Concordia.

Concordia chairman Andy Pratt says: “I can confirm that IF has agreed an exclusive with Concordia.”

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