The Simply Biz package will now be provided to mortgage intermediaries for 1 per cent of turnover, with a minimum monthly charge of £99. The turnover rate of 1 per cent is guaranteed for life, making Simply Biz the only distributor to have guaranteed their rates for the lifetime of a firm’s membership.
Simply Biz Mortgages managing director Philip Holroyd says: “Simply Biz sees a bright future for the mortgage industry and has launched a groundbreaking package designed specifically for mortgage intermediaries.”
Simply Biz chairman Ken Davy says: “Firms specialising in mortgages and protection are under real pressure at the present time both from the market itself and from the uncertainties surrounding mortgage networks, several of whom have already disappeared. Our objective is to provide the help and compliance support mortgage firms need as cost effectively as possible.”
All existing mortgage brokers who are Simply Biz member firms will also have their fees automatically reduced to the new rates from September 1.