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PMM loan introducer deal

Premier Mortgage Management is offering IFAs a “third option” before mortgage regulation starts in October 2004.

The company is marketing IFAs with the concept of becoming a PMM introducer as an alternative to direct authorisation with the FSA or indirect authorisation via a principal.

PMM says it a simple, cost-effective, more financially attractive option, with the cost of direct authorisation estimated at £5,000 a year via associated fees.

It says the introducer option takes away the burden of selling and processing cases and has the “added bonus” that clients are serviced regularly.

The firm offers mortgage services to end users and working partners, including IFAs, IFA networks, mortgage clubs, finance houses and web-based specialist providers. It has around 200 working partners and is aiming to recruit another 800 partners.

Managing director Mark Mountney says: “This is an important time for everyone in the marketplace and IFAs need to be sure that the decision on which route to go is right for all reasons – sanity, financial welfare and in the client&#39s best interest.”

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