Pink reports increase in requests for 24 hour fee payment

Pink’s Finance Director, Lisa Hurley, said: “The 24 hour payment facility has always been very popular with our customers and it’s not surprising to see it become even more so in a time of challenging market conditions. Intermediaries are having to keep a much closer eye on their finances and make decisions about how and when they want to be paid based on their cash-flow situation.”

“One of the roles of a network is to help their members manage their cash-flows and to accommodate the peaks as well as the troughs in their business submission levels. Not only do we offer our customers the 24 hour payment for completed mortgage cases, but we also provide them with the option of having their life insurance commission paid in a lump sum or split equally over the claw back period.”

AR of Pink, David Jones from Francis Stone, based in London, comments; “The 24 hour payment facility has been critical to the growth and development of our business. As we tend to be a referral based company and not fee charging, it has always been imperative for us to ensure that we are paid as soon as possible.”

“Pink’s 24hr payment proposition is unique within the intermediary market place and should be taken advantage of. Current challenging market conditions will inevitably lead to the departure of some firms from within our industry and therefore intermediaries and their networks need to ensure that poor management of cash-flow is not a contributing factor for these departures.”