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SimplyBiz and MSN set up loan support service

SimplyBiz and Mortgage Support Network have launched joint venture company Broker Support Services aimed at supporting directly authorised mortgage intermediaries.

SimplyBiz is providing webbased compliance support and MSN is providing a whole-of-market mortgage range and over 40 partner lenders. The firm started trading on February 28 and has 216 firms signed up, totalling 427 advisers.

The service allows access to some of the highest procuration fees available and high commission levels for non-investment life and general insurance policies as well as free internet-based FSA compliance support.

SimplyBiz company director Philip Holroyd says the service is free, with profit margins maintained by marketing allowances from product providers.

Holroyd says SimplyBiz has been looking to move into the mortgage market and working with MSN is the perfect opportunity to make its move.

MSN managing director Jason Graham and Holroyd will be joint managing directors of BSS.

Holroyd says: “Professional mortgage intermediaries deserve the highest levels of income and compliance support, irrespective of the volumes they write. We have created a one stop-shop for both the core and ancillary services that regulated mortgage advisers need.”

Graham says: “Our businesses support more than 2,000 mortgage brokers and IFAs. We recognise that dir-ectly authorised mortgage brokers are looking for the same levels of support and market-leading levels of procuration fees and commission.”

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