Leeds supports ‘Passport’ scheme

Ramesh Sharma

June 1, 2004

The Passport scheme, launched in September, is aimed at directly authorised mortgage brokers and provides a range of benefits including product exclusives, AirMiles, free Mortgage Brain and Trigold subscriptions, access to a vetted panel of lead generation companies, white label website facilities, preferential rates with Goldsmith Williams, educational workshop and marketing support and a car leasing scheme.

Jeff Kirk, corporate relationship manager at the Leeds, said: “It’s good news to see organisations such as Mortgage Next looking beyond a simple product and pricing proposition. Brokers need help to build their businesses in a tough market and Passport offers genuine benefits.”

Martin Maynard, managing director at Mortgage Next, commented: “We’re delighted a leading lender such as the Leeds has given the Passport initiative its support by joining the panel. Passport has been designed to deliver genuine added value to the directly authorised market and propel Mortgage Next ahead of other mortgage clubs which have simply adopted a ‘sticker and submit’ approach. We look forward to working closely with the Leeds and further enhancing the Passport proposition.”

Membership of the scheme costs £100 yearly, deducted from the broker’s first proc fee payment after joining. Brokers receive 145 AirMiles for each standard completion and 290 for each non-conforming and packaged case which completes after the first two cases each month. If brokers submit 24 completed cases in a year the membership fee will be waived the following year.

Sole broker Roy New said he was dubious about incentive schemes that required an upfront payment. He said: “I’m amazed at companies who charge upfront for an enhanced proposition. I use Mortgage Next and was offered membership but the joining fee put me off immediately.”

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