Skip to content

Evolving Mortgage Network | Connect Entering a New Phrase

Evolving Mortgage Network

Evolving mortgage network

Liz Syms
Liz Syms, CEO and Founder of Connect Mortgages

Connect for Intermediaries has revamped its offering. They have become an evolving mortgage network for current and prospective brokers. The company has made substantial changes to enhance the experience for affiliated brokers and client referrers.

Additionally, Connect for Intermediaries is refining its proposition. They have introduced innovative features to support and add value to network members. This strategic overhaul reflects their commitment to industry leadership. They continually improve services and foster strong relationships with partners.

Evolving mortgage network | Elevates broker offerings with innovative changes and exclusive partnerships

Connect for Intermediaries has introduced changes, including equity release and unsecured business lending panel enhancements. They also launched a training academy for new brokers and upgraded commission splits. These updates align with their commitment to continuous improvement.

Additionally, the firm offers exclusive discounted deals through technology partners, enhancing brokers’ value. They implemented a revised case submission procedure to streamline processes and require brokers to meet high-quality standards.

Liz Syms, CEO of Connect for Intermediaries, shared these advancements during the annual conference in Essex. The event also celebrated the broker firm’s 20th anniversary. The revamped equity release panel includes seven reputable lenders: Aviva, Hodge, Legal and General, LV=, More2Life, Pure Retirement, and Retirement Advantage. This panel is accessible to qualified brokers or via referral for those lacking the necessary qualifications.

A dedicated course will be available to members to foster skill development within the Connect network. This underscores the company’s commitment to equipping brokers with essential tools for success in the evolving financial landscape.

At the conference, Syms stated: “Equity release is not just about standalone equity release. Many lenders also offer later-life products. Our offering enables advisers to explore all options and make the best recommendation for clients.”

Evolving mortgage networkTraining academy

In 2019, we launched our training centre to integrate new talent into the industry. This initiative supports both newcomers and established network member firms looking to expand their teams.

Qualifications and Training

Although many lending activities facilitated by Connect do not require CeMap qualifications, having such certification is not mandatory. However, advisors without CeMap credentials will only operate within non-CeMap designated domains.

Commitment to Excellence

Our training academy aims to meet and exceed industry standards. We are committed to creating a dynamic learning environment. This environment equips individuals with the necessary skills and encourages innovation. We strive to introduce new players to the field and cultivate future industry leaders.

Supporting Growth

“We will help you and those not currently in the industry become mortgage advisers to grow your teams,” Syms said. “Until now, to take on an appointed representative (AR) into our network, we’ve required experience. Our training academy will enable us to take on people without that experience, who may have the qualification but need to learn about advising,” she added.

Evolving mortgage network | Commission and Panels

The commission structures have been revamped, leading to a reduction in set targets. These targets are now updated quarterly. The upcoming quarter’s split is linked to the broker’s performance in the previous quarter.

Brokers earning up to £15,000 per quarter will incur a 25% deduction. Those earning between £15,000 and £25,000 will face a 20% deduction. For incomes exceeding £25,000, the network will apply a 15% deduction.

Unsecured Lending

The new approach extends to unsecured lending, featuring four notable lenders. The panel includes Fleximise, Funding Circle, Iwoca, and Whiteoak. This panel serves as an advisory resource for network members and other brokers using packaging services.

Syms stated that the initiative aims to help brokers secure essential funding for their clients. This support is crucial for business growth and development.

Comprehensive Life Panel

A comprehensive life panel covering the entire market has been introduced. This expansion gives brokers and network members more options to meet their clients’ needs. The holistic approach is expected to streamline financial solutions for businesses.

Evolving mortgage network |Submission of cases and technological advancements

Connect For Intermediaries

Participants now have more autonomy to propose decisions independently if they meet the required qualifications. This change empowers qualified members and encourages proactive decision-making.

GDPR Compliance and One Mortgage System

Compliance with the General Data Protection Regulation (GDPR) requires the network to fully acquire the One Mortgage System (OMS) software. This ensures that all data management processes are secure and compliant.

Discounted Agreements for Members

Connect has brokered discounted agreements for its members to access One Mortgage System (OMS) and Knowledge Bank. This support enhances compliance and data management practices for all network members.

Moreover, this strategic move aligns with the network’s commitment to promoting efficient and secure data management among its members.

We’ve come to the end of our discussion on “Evolving Mortgage Network.”

Why Join The Connect Network

Leave a Reply