Why use a broker rather than a packager?
Finance professionals quite rightly assess the entire market for the best solution to meet their clients’ residential mortgage, pension, insurance or investment needs, but many use a packager with a restricted panel to place commercial and business finance for those same clients.
Many commercial packagers have a panel of only a few lenders from over 140 potential finance providers in the market, which means clients may not always be getting the best possible solution.
We know of packagers who have as few as 3 lenders on their panel offering commercial products!
For over 27 years Omega have been a Whole of Market broker, so our introducers know when we quote terms for their client, those terms are the best available.
Who’s providing the advice? Is your PI or compliance at risk?
Our introducers also know who is giving the advice and whose PI cover is being used.
Remember if you are stating which lender the packager should use, you are providing the advice which need to be covered by your or your network’s PI policy, which may not be the case for commercial deals. Some packagers state they are offering a non-advised placement service so you need to be doubly sure who provided the advice to your client if the FCA come knocking.
Want us to take the burden? No problem.
Remember we can also handle your cases upon receipt of just a name and number and will still pay out the same competitive commission!
Our average payout on completed commercial cases (based on our average case size) is 0.73% of the loan amount which even includes lenders who pay no commission – we will absolutely use those lenders if it is the best deal for your client.
On bridging cases our average payout, again based on our average case size, is 1.04% of the loan.
Remember these commissions still apply if we do literally all the work for you!
You are still in Control of your client relationship
Naturally if you prefer to stay close to the transaction we completely understand, but if you’re happy for us to deal directly we will;
- look after the client as well as you would
- provide updates along the way
- still pay you the same great commission
- always remember that the client remains your client.
- Never, ever, cross-sell anything to them.
Our commitment to you is that we will;
- always place your client with the best lender from the whole market to meet their needs
- tell you on day 1 how much we expect your commission will be.
No vague ‘percentages of this’ or ‘share of that’ – we will confirm in pounds and pence how much we expect to pay based on the assumed lender and the loan amount.
Join the thousands of introducers who have experienced the Omega difference, and get in touch to see how we can help your clients.