Intelligent Finance is mailing a mortgage calculator to 21,000 IFAs. It says the calculator can help IFAs show clients the benefits of switching their mortgage to the company.
To alert IFAs to the mailing, it is sending a promotional postcard with the line, Do you have the Midas touch?
IFAs will then get a computer disk with the calculator. A competition will offer them the chance to win one of 10 South African gold Kruggerand coins or one of 25 bottles of Golden Drop malt whisky.
Using the calculator, IFAs can demonstrate the effect on a mortgage term of making extra payments each month or making one-off payments.
The calculator shows how a savings or current account with IF can minimise the interest a client pays and reduce the term of the mortgage.
IFAs can look at the mortgage at any point in the future to see what effect changing repayment amounts or paying a one-off lump sum will have on the overall loan.