HoC set for partner exit hit

Mortgage Introducer was contacted by a source close to HoC, saying that network member, The Mortgage Broker Ltd, was considering quitting the network for unspecified reasons.

Darren Pescod, managing director of The Mortgage Broker Ltd, refused to rule out such a move, insisting the firm was always looking at its options.

He said: “I have no real comment to make at the moment, but we are weighing up our options. We have always looked continuously at our options, whether it would be with HoC, going direct or moving to another network, to ensure the business is in the best possible shape.”

While The Mortgage Advisory Business, considered a superfirm by the network, is HoC’s largest firm in terms of face-to-face advisers, The Mortgage Broker Ltd is one of its biggest businesses by volume.

Richard Coulson, CEO of HoC, commented: "It is a fact of life that in today’s market, top quality brokers are approached on a daily basis by other networks hoping to poach the talent away – that’s exactly what we do.

"We constantly review the services and products we offer our businesses and we know that we have the best proposition among mortgage networks. Given all that, I'd be surprised if our top businesses left for another firm.”