Trustguard offers enhanced proc fee on GMAC deals

Ramesh Sharma

June 1, 2004

The firm will pay 1.25 per cent instead of 1 per cent when a case submitted via POSD to Trustguard completes. Brokers can take advantage of on-site GMAC underwriters and products not available from GMAC directly.

John Pearson, managing director at Trustguard, said: “Combining GMAC’s certainty of decision with Trustguard’s service is a win-win situation and we’re happy to increase the proc fee, reflecting the broker’s input in obtaining that binding decision.”

Anna Bennett, marketing communications manager at GMAC, said: “John and the team provide a great service to intermediaries and using POSD gives them instant binding decisions. The promotion will be an added benefit to what’s already a great mortgage range.”

Andy Pratt, chief operations officer at Alexander Hall, said: “It’s good to see a firm attempting to move the industry forward. This seems a progressive step as it will encourage more advisers to use technology.”

Trustguard has also launched a general insurance network. Comprising 15 providers it covers areas including life, building and contents and accident, sickness and unemployment, with full compliance and technology support.

Tony Williams, compliance director at Trustguard, said: “We’ve worked hard to deliver what can only be seen as the complete solution via our network. Our standing in the market has enabled us to negotiate top commissions with reputable providers allowing Trustguard to offer a strong app- ointed representative proposition.”

Trustguard has also expanded its underwriting and processing teams. Miranda Lipley, Paul Phillips and Katie Nash join mortgages while Jodie Alison, David Gould and Alison Dyer join secured loans. Sian Brown, national sales manager, said: “We’re pleased about our latest recruits. Business volumes have increased so much we’ve had to take on additional staff.”

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