m2i adds to proposition

Amanda Jarvis

January 18, 2006

The Equity Release Advisory Service is an independent telephone based Equity Release advice centre. It is staffed by a team of Mortgage Professionals with a successful track record in providing Equity Release advisory services to intermediaries. Their services are accessed via a simple web based referral process and presents intermediaries with an opportunity to earn an average income of £300 from a minutes work. There is no necessity for the m2i member to hold FSA permissions for Lifetime mortgages as all the advice is provided by ERAS directly to the client. The services on offer from their website are:

1. Raising income or capital
2. Lifetime Loans
3. Reversionary Schemes
4. Interest Only Mortgages
5. Specialist Legal Referral

Steve Butler , head of m2i commented “It is so important to m2i that we constantly try to find ways to grow and strengthen our proposition and we see the relationship with the Equity Release Advisory Service as a perfect opportunity to do just that. Going forward into 2006 there will be several opportunities for intermediaries to increase their revenue streams and equity release will be a key opportunity.”

Stuart Wilson, Managing Director of Equity Release Advisory Service commented “The referral service has been in great demand since we launched, and we have decided to concentrate on leading organisations that have the track record of delivering robust and compliant services to their members, this is the first announcement towards our plans of working with the leading distributors”

The Equity Release Advisory Service partnership goes to strengthen m2i’s proposition.

A full compliance framework and regulatory support

Intermediaries will have access to the compliance support and advice of the team, headed by compliance director, David Payne, former operations director of the Mortgage Code Compliance Board (MCCB). Benefits include managing intermediaries FSA application for authorisation, routine compliance checks and visits, helping with the Approved Persons Regime, plus ongoing training and competence.


m2i utilises the Mortgage 2000 “Encore” sourcing system, which incorporates the Mortgage Trading Exchange (MTE), as well as “Adviser Office” from 1 st Software. The two systems have been combined to provide a complete client database management system, a compliant sales process, audit trails, and pre-population of data, which means information is keyed only once. Both systems are provided within the membership package.

Lender partnerships

While directly authorised firms automatically have freedom of choice within the market, m2i members will also be able to utilise the m2-mortgage club, one of the largest lender panels in the country with over 50 lenders, providing exclusive products, enhanced procuration fees, and electronic trading facilities. In addition 20 lenders are accessible through Mortgage 2000 Design and Processing (m2-d&p), one of the top packagers within the country, and applications can be submitted electronically from the “Encore System”

Soft packaging

This recently launched state of the art technology is available to m2i members free of charge. This online system guides you through lender specific criteria, enabling intermediaries to ‘process’ client cases up to offer stage and on average will produce additional revenue in excess of £250 per case, for intermediaries who use the system

White labelled website

Each m2i firm can receive a white labelled version of the UK’s top personal finance website, moneysupermarket.com, which has over 20 finance channels including secured and unsecured loans, credit cards, various forms of insurance and even utilities. The members’ version of the site will be fully branded with individual company logo’s and contact details.

Free mortgage and term assurance leads

m2i members will also be entitled to receive free leads from the Professional Adviser Alliance. These leads are generated from the leading internet sites in the UK and research has shown that over a 2-3 month period, 44% of the leads result in an application.

Other benefits

Also included within the m2i package, is access to a range of general insurance partners, marketing and promotional support, ongoing training facilities, a loans panel,

conveyancing, life insurance providers, and commercial loans.

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