Zifa claims business is booming at its IFA mortgage network with new introduced loans up 50 per cent on last year. The network's mortgage introductions have risen to £600m from £400m last year, with the number of mortgage completions up by 60 per cent to £320m from £200m.
Zifa says the figures reflect the work it does with IFAs in showing them how to sell mortgages and understand the market. Zifa runs a regular series of CeMap mortgage qualification training sessions and mortgage marketing workshops in which it says over 500 IFAs have taken part.
The network also uses mortgage sourcing software from Mortgage Brain which helps IFAs find loans for clients by recommending the most appropriate product.
The software is available free of charge for IFAs who complete more than three mortgages per quarter thro ugh the network at a saving of around £60.
Over 400 of the 4,000 IFAs signed up to the network have taken up the software and Zifa is predicting 600 IFAs will have done so by the end of next year. Mortgage network director Andy Young says: “I'm del ighted to see the business grow by 50 per cent this year and I fully expect further growth of around 35 per cent in 2001.”