Sesame has signed up Abbey and HBOS to its new mortgage network proposition which it claims will be the industry's top best of breed mortgage panel for IFAs.
These are the first providers to sign to the offering ahead of FSA regulation of mortgages later this year.
The network is finalising its proposition and will be offering two regulated network options for members, with Sesame taking full regulatory responsibility for their mortgage business. The first is the panel, representative of whole of market, and the second will be a service offering all lenders in the marketplace.
Commercial director Martin Davis says in order to offer whole of market, Sesame will most likely build a panel of up to 15 specialist lenders but the mainstream will be covered by HBOS and the Abbey.
He says: “We had three or four big names on our list but HBOS and Abbey were our first choices. This move will have massive impact on the marketplace.”
Abbey for Intermediaries director Ambrose McGinn says: “The Sesame proposition fits perfectly with ours across mortgage, protection and wealth management and its structure and ethos complements our own.”