Mortgages for Business has launched a network just for unregulated advisers who wish to transact buy-to-let business.
Mortgages for Business said it has been working to find a solution which allows unregulated mortgage brokers to continue to transact buy-to-let business, and has settled on the option of a specialist network.
Nick Blunt, head of business partner development at Mortgages for Business, explained: "The solution for many brokers would be to join a large mortgage network where they can access a number of services - this would include residential services among other things. However, this solution means that brokers could be paying for services that they do not necessarily require.
"We have produced a buy-to-let network solution which means that those brokers who only want to transact buy-to-let business only have to pay for transacting buy-to-let business."
The cost of network membership is £75 a month for appointed representatives (ARs) and £17.50 for introducer appointed representatives. The AR scheme includes FSA registration, access to products and access to the sourcing and portfolio management tool Mortgage Flow.Mortgage Solutions
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