CMN will offer advisers a network solution where they can provide traditional mortgage advice and protection business, in addition to being supported in giving their clients bridging and development finance advice.
For any advisers looking to join CMN, the company offers:
- low upfront fees for authorisation with the FCA and full ongoing compliance support
- CRM and technology solutions across loan types
- set-up team who can move quickly to a launch
- opportunity to offer whole of market mortgage and protection advice (including consumer BTL and regulated bridging), alongside commercial bridging and development finance
- advisor commissions of up to 1.5% of loan value.
- The newly-launched network is part of UK Financial Consultancy Services Ltd (UKFCS), which has been directly authorised by the FCA since 2006.
UKFCS has built its business with both traditional mortgage and specialist bridging and development finance advice.
This combined approach allows an enhanced income from specialist advice, which provides greater commission percentages.
- CrowdProperty nears £100m lending milestone with 'big ambitions' ahead
- Peritus Corporate Finance to launch commercial adviser network
- No box-ticking: why alternative lenders are quietly winning over borrowers
Danny Carter, founder and MD of CMN, decided to launch the new network to help support other advisors who want to operate across the entire property finance spectrum and not be constrained to just providing traditional mortgage advice.
“Most networks only support their advisors with traditional mortgage advice due to the specialist nature of bridging and development finance, and the increased compliance implications this brings, especially around PI insurance,” said Danny.
“We have been operating in this space since 2006 and are in a position where we can help other advisors work across the whole property finance market, which we believe makes us a unique proposition for advisors.”
Danny worked at Barclays Bank for over 10 years, before setting up his own brokerage in 2011.
Following this, he brought his experience and contact base to UKFCS before launching CMN.
Danny will work together with Paul Dukes, head of business development for CMN, who recently left Barclays after over 30 years of service in both retail and commercial banking.
Paul said: “When I left Barclays, I was looking for a new challenge and knew Danny had been having great success with his model of combining traditional mortgage advice with specialist commercial finance.
“When Danny shared his vision for Collective with me, I felt that supporting other advisors who want to offer more than just mortgage advice and expand into the commercial finance space is an exciting proposition for all concerned.”