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Personal Touch opens Box to boost club

Personal Touch Financial Services will relaunch its mortgage club next month in a bid to entice over 1,000 new brokers on board.

The network admits its current club proposition has failed to achieve any significant market penetration, with only 120 directly authorised firms as members, and it is rebranding the arm as Mortgage Box from February.

It will have a panel of 46 lenders and will offer exclusives and semi exclusives with “market-leading fees”. There is also the promise of enhanced technology using the PTFS Toolbox system that it has for the appointed representatives in its network.

PTFS is also creating Life Box for life insurance products. Money Marketing understands that further clubs for MPPI, medical insurance and buildings and contents insurance are likely to be launched in the coming months.

Brokers will need to become members of each unit individually to have access to the respective products.

PTFS has around 1,750 ARs, which represents 98 per cent of its membership. That figure could dramatically change if it meets its targets on Mortgage Box, although it stresses the network will remain the core part of its business. Director of mortgage distribution Dev Malle says: “We did not have a system or process in place to make a meaningful proposition for the directly authorised market. This will be a slicker system and easier to use and it is fully integrated with the sourcing systems. It is a new strand to the business.”


Stampede sees pegged-rate loans withdrawn

Lenders are withdrawing fixed-rate deals by the bucketload as many have run out of funds after a surge in demand that followed last week’s shock base rate rise.At least 17 lenders had withdrawn fixed deals or signalled their intention to do so as Money Marketing went to press, with more set to follow, after a […]

Product matters

Unfortunately for buy-to-let investors, rental income does not move in line with the Bank of England base rate. With interest rates rising again, landlords will see the difference between their rental income and mortgage payments reducing and some may already be supplementing the rental to cover the interest. It also makes it harder to meet […]

OFT warns firms over non-compliant IVA ads

The Office Fair Trading has warned 17 firms promoting Individual Voluntary Arrangements that it considers their adverts and websites potentially mislead consumers. This follows a compliance sweep undertaken by the OFT in November of 124 adverts in national newspapers and 57 websites promoting and marketing IVAs. Some of the claims made about IVAs were considered […]

Europe: banking on a recovery

Neptune video: Europe — banking on a recovery

Arguing that the eurozone crisis is over, watch Rob Burnett, head of European equities at Neptune, discuss the sectors that he’s investing in to harness the recovery. 

In the video, Burnett addresses the following: 

• The primary drivers of the eurozone’s economic recovery
• The turnaround in individual countries’ current accounts
• Sectors best positioned to harness the recovery, without offering undue exposure to risk


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