Network Data accused of ‘back-door’ sign-up methods
The directly authorised broker, who wishes to remain anonymous, contacted Mortgage Introducer with his concerns. He said: “I received a call from Northern Rock advising me that Network Data had asked it to contact brokers to allocate them with a PIN to allow them to submit business via Network Data’s club. I had not applied to Network Data to submit business through it and was surprised it can contact lenders in this way without authority.”
“I know Network Data is trying to get DA brokers to join its club. I used it prior to regulation but as it was looking for appointed representatives (AR) I did not join. It has sent me marketing e-mails to join its DA club but I ignored them. The call from Northern Rock made me wonder if it is trying a back-door method of getting brokers signed up with lenders,” he added.
However, Network Data has vehemently denied the claim.
Richard Griffiths, managing director at Network Data, explained it was impossible to comment specifically without further details but said: “Network Data has nothing to gain by requesting lenders to add brokers without their authorisation and we would not prejudice our excellent working relationships with lenders by engaging in such a dubious practice.
“If the broker concerned would like to contact me by e-mail I will be pleased to provide a detailed explanation of what happened in his particular case.”
“Perhaps it is an instance where a partner or adviser within a broker firm has requested registration with Network Data and overlooked the internal communications within his own firm,” he added.