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Exclusive Connections updates M2000

Exclusive Connections has increased the proc fees and product ranges for its newly acquired M2000 mortgage club.

Exclusive Connection acquired the club from moneysupermarket.com in February, and has now begun to rebuild the distributor. It has also revealed it will be rebranding the club later in 2009.

Procuration fees will be increased across a range of products for all completions after April 1, and all fees will now be paid on completion.

The club has also launched a 90 per cent LTV five-year fix exclusive from RBS Intermediary Partners, as well as a 75 per cent LTV buy-to-let deal.

Exclusive Connections managing director, Matthew Arena says: “We are in the process of investing a lot of time and effort into building on the successful foundations of the club and having revised our strategic plan for the business, we are able to offer two significant improvements that we know will be welcomed by existing club members and potential users.

“It is particularly good news for intermediaries to find a club actually increasing procuration fees at a time like this. We also moved to ensure that all advisers who use the club are actually paid on completion. Cashflow is vital to all businesses and intermediaries should not be expected to subsidise bigger players in whom they have placed their trust and their business. Everyone dealing with M2000 Mortgage Club now knows that payment is on completion.”

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