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MBSL looking to poach Classic ARs

Mortgage Broking Services is planning to poach up to 30 of Classic Network Solutions’ 64 appointed representatives.

The subsidiary of Manchester Building Society, which had what it describes as a “substantial” bid to buy Classic rejected two weeks ago, is now looking to add to its 99-strong AR base.

MBSL managing director Tony Corrigan, who quit from the same role at Classic in September, says he is confident he will hit his target after writing to Classic’s ARs over the past few weeks.

He says: “We have offered brokers an incentive to join MBSL which significant numbers are considering and it looks like we will get a good uptake. We would only take around 30 firms or less. We made an offer to buy Classic two weeks ago but it is dead now. We made a substantial offer but it was rejected.”


Charcol wants to team up with football clubs

John Charcol is looking at offering mortgages via affinity partnerships with football clubs. The broker believes that many football supporters are getting a poor deal with poor affinity deals on other financial services products such as credit cards and general insurance when products are sold direct and it believes that a broking service would offer […]

Standard continues push into China

Standard Life has continued its push into China with the opening of a new branch in Nanjing. The Chinese joint venture between Standard Life and TEDA Investment Holding Corporation, called Heng An Standard Life, represents the life office’s first move into Southern China. HASL aims to target savers with its portfolio based on plans for […]

HSBC International builds with Bric

HSBC International has brought out a capital-protected offshore Oeic that is linked to the performance of the DAX global Bric Index for five years.
Investors in this fund will receive a full capital return at the end of the term regardless of the performance of the index, plus a minimum return of 9 per cent growth.


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