Broker services – Chateau Langeais

APOLLO welcomes Ritesh Grover as VP Operations & Broker Services

Donald C. Leak — Thu, 13 Oct 2022 07:00:00 +0000

TORONTO, ON, OCTOBER 13, 2022 /insPRESS/ – APOLLO Insurance, Canada’s leading InsurTech, is pleased to announce that Ritesh Grover has joined the company as Vice President of Operations and Broker Services.

APOLLO makes insurance easier for individuals and small businesses by delivering a people-centric shopping experience through time-saving technology and a deep understanding of the communities they serve.

In his new role at APOLLO, Grover will lead initiatives to improve the broker experience through collaboration with various teams including Software Development, Underwriting Services and Broker Success. Additionally, he will focus on driving key initiatives to further optimize APOLLO’s operational processes and workflows across all business areas.

“I’ve been following APOLLO for a few years and have been very impressed with the developments the company has made in the InsurTech space,” Grover said. “It’s a forward-thinking, fast-moving company, and one of the few that is making a real effort to simplify insurance and create a seamless customer journey. I have already come to admire the work culture, the openness of my colleagues to new ideas and the commitment to the values of APOLLO.

Grover brings to APOLLO more than 15 years of experience in the insurance industry. His specialties include business relationship management, property and casualty insurance, risk management and customer service. Prior to joining APOLLO in August 2022, Grover’s previous roles included senior roles at Intact Insurance and belairdirect.

“The depth and breadth of Ritesh’s experience in brokerage operations and services will play a critical role in how APOLLO continues to drive value for our brokerage partners,” said APOLLO CEO, Jeff McCann. “We are delighted to welcome him on board.”

In April 2019, APOLLO launched its proprietary technology, which leverages big data and sophisticated algorithms to quote, link, collect payments and deliver policies. This allows thousands of brokers, individuals and small businesses to buy online without human intervention.

For more information please contact:
David Dyck, APOLLO Vice President of Marketing and Public Relations
(778) 917-9667
[email protected]

About APOLLO
APOLLO (legal name “Apollo Insurance Solutions Ltd.”) makes insurance effortless for individuals and small businesses. As Canada’s leading online insurance provider, APOLLO delivers a people-centric shopping experience through time-saving technology and a deep understanding of the communities we serve. Learn more at apollocover.com.

Q&A: Lisa Muscroft, Head of Loan Brokerage, Norton Broker Services

Donald C. Leak — Sun, 25 Sep 2022 07:00:00 +0000

best advice toss the questions to Lisa Muscroft, Head of Loan Brokerage, Norton Broker Services.

Best BA Advice: Do you think there are still times when brokers advise clients to remortgage, when in fact a second mortgage might be the most appropriate solution?

Lisa Muscroft LM: Yes, but that’s mostly due to a lack of knowledge and education about second mortgage products, not because they give bad advice. They simply take the route they are most comfortable with.

There is a lot of misunderstanding in the market regarding second mortgages and the industry needs to do more to educate brokers on the opportunities in the sector.

An obvious example would be when a customer’s credit history has deteriorated or they have adverse credit. Instead of remortgaging, they could keep a low first charge rate and raise money with a second mortgage instead.

BA: What do you think are the biggest myths in the second charge market?

ML: That the products are intended for debt consolidation only and that they are complex and only serve customers with an adverse credit history.

Another myth is that customers are wary of second charges because of their high rates and involve a lengthy application process. It’s not true. Second mortgage rates are extremely competitive and the time to release funds is extremely fast, sometimes taking only a few days.

BA: What are some of the more common uses for second mortgages provided by Norton Finance?

ML: I would say the majority of our second mortgages are used for debt consolidation, home improvement or buying a caravan or holiday home. It’s pretty standard in the market.

Sometimes borrowers take out a loan to pay for vacations and we also get inquiries from borrowers looking to pay their tax bill.

BA: Is there anything about the second mortgage application process that brokers should be aware of?

ML: Probably the process is extremely streamlined and efficient, which means that funds can be released much faster than in the first fee market. Applications can be completed within a week, which is unheard of in the consumer market.

At Norton, we have our own bespoke procurement system with Lender API, which is also connected to Equifax and Land Registry. This allows us to instantly give decisions to the lender, which helps speed up the application process.

We also have a dedicated team of advisors who handle inquiries from start to finish, providing consistency for brokers and giving them a single point of contact.

BA: What advice would you give to brokers who say they are too busy to offer second mortgages?

ML: Let’s eliminate the stress. Our call center is open seven days a week, so refer your client to us with some basic information and we can do the rest. You will still own the client, but we can do the work and provide the advice, leaving you free to focus on other business.

Relation Insurance Services acquires the assets of Insurance Broker Services

Donald C. Leak — Tue, 16 Aug 2022 07:00:00 +0000

Transaction Strengthens Relation’s Presence in California and Further Expands Relation’s Offerings in the West

WALNUT CREEK, Calif., August 16, 2022–(BUSINESS WIRE)–Relation Insurance Services (“Relation”), one of the largest and fastest growing national insurance agencies, today announced the acquisition of the assets of Innovative Broker California-based services. Terms of the transaction were not disclosed.

This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220816005102/en/

Relation Insurance Acquires Innovative Brokerage Services (Graphic: Business Wire)

Innovative Broker Services provides comprehensive benefits solutions to clients in California and is headquartered in Folsom, CA. Tom Avery will continue to lead Innovative Broker Services under Relation going forward.

“We are delighted to welcome Tom Avery and his team to Relation,” said Tim Hall, executive vice president and head of mergers and acquisitions at Relation. “Innovative Broker Services brings additional expertise and depth to our existing footprint in the California market and we are thrilled to have them.”

About Relationship Assurance Services

Relation Insurance Services is an insurance brokerage firm that provides superior risk management and benefits consulting services across the United States. It is ranked by Insurance Journal as one of the nation’s 35 largest agencies by revenue and has approximately 1,200 employees in more than 125 locations nationwide. Relation is privately backed by Aquiline Capital Partners, a New York and London-based private equity firm that invests in financial services and technology companies around the world. Visit www.relationassurance.com for more information.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220816005102/en/

contacts

CONTACT US
Tim Hall, Executive Vice President and Head of Mergers & Acquisitions
Relationship Assurance Services, Inc.
Such. : 312-714-7279
Email: [email protected]

Contact for Relationship Insurance Services, Inc.
georgia williams
[email protected]
(219) 741-9539

Düsseldorf Regional Court on Unfair Email Advertising of Brokerage Services – Advertising, Marketing and Branding

Donald C. Leak — Wed, 10 Aug 2022 18:45:00 +0000

August 11, 2022

Oppenhoff & Partner

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The Düsseldorf Regional Court has ruled that under certain circumstances an insurance broker must agree to be held liable for the unfair behavior of an advertising agency commissioned by him (judgment of June 16, 2021, 12 O 10/21).

An insurance broker had commissioned an advertising agency to advertise some of its products and services via email. The claimant in the subsequent legal proceedings, another insurance broker, had downloaded a sales contract from the advertising agency’s homepage. During the upload process, the advertising agency received the applicant’s e-mail address and subsequently sent her advertising for the products of the commissioned insurance broker.

The petitioner considered the advertisement to be an unreasonable nuisance, whereupon she sued both the advertising agency and the insurance broker for an injunction pursuant to secs. 7 and 8 German Unfair Competition Act (Gesetz gegen den unlauteren Wettbewerb, UWG).

The regional court ordered the insurance broker and the advertising agency to refrain from sending the advertisements. It established that the competitive relationship necessary for the injunction existed between the petitioner and the insurance broker, as well as between the petitioner and the advertising agency. The sending of advertisements by the agency could be attributed to the insurance broker in accordance with art. 8 (2) UWG.

Consistent with Supreme Court case law, the Court emphasized that an agent within the meaning of the provision is a person who, without being an employee, works for the business of another on the basis of a contractual relationship or ‘another legal relationship, by which he is integrated into the organization of the company in such a way that the success of his action benefits at least equally the owner of the company and the owner of the company is definitively granted decisive and opposable influence on the incriminated activity. The insurance broker objected, claiming that he had no knowledge of the advertisements sent by the advertising agency to the claimant. However, the court considered this argument to be irrelevant: whether the business owner actually uses the possibility of exerting influence is not decisive. It is sufficient for the allocation that the owner of the company could and should have ensured decisive influence. The widespread commissioning of the agency and the use of its mailing lists meant that there was an opportunity to exert influence.

The Regional Court of Düsseldorf established the relevant competitive relationship between the advertising agency and the plaintiff in the aspect of the promotion of sales to third parties by means of the sending of advertising.

Insurance brokers should be aware that even outsourcing marketing activities to third parties does not protect them from attribution under competition law. It makes sense for them to regularly check compliance with competition law by their contractual partners in order to guard against unpleasant surprises.

The content of this article is intended to provide a general guide on the subject. Specialist advice should be sought regarding your particular situation.

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Itoro-capital.com Review 2022 – A Brief Introduction to the Services of the Broker

Donald C. Leak — Sat, 06 Aug 2022 07:00:00 +0000

What is iToroStocks?

iToroStocks is a new but promising brokerage firm that has done well in trading. Since its inception, the organization has successfully helped hundreds of traders buy, sell and hold CFDs such as commodities, cryptocurrencies, Forex and stocks. This broker provides an online trading platform. Also provides tools for new traders who need step-by-step training for trading.

The company is a service-oriented online brokerage that provides multilingual services in 120 countries and regions. It is a trading platform that offers all kinds of traders easy trading conditions. This organization is the best real-time trading platform. You can use the platform software’s fast trade execution policy, as well as real-time market quotes. The contemporary user interface of the platform is intended to satisfy customer demands and ambitions.

Moreover, this Review of iToroStocks will review the platform’s expanded selection of tradable assets. It covers all major cryptocurrency pairs, commodities, indices and currencies. The wide range of assets will help you diversify your portfolio. The trading platform charts can also be customized. The broker offers consumers various payment options, which makes it extremely easy for clients to select the best option available to them at that time.

Customer support is available 24 hours a day, 5 days a week. Customers are offered several ways to contact the support team. They can contact the staff directly by phone or e-mail. The crew is responsive and professional. Moreover, the platform assigns its clients a professional account manager who assists them throughout the process. Managers play a vital role in promoting risk-free trading.

The qualities of this broker are mentioned below in this Review of iToroStocks to give you an unbiased opinion.

Every great broker should offer their clients the right trading platform to hone their trading skills. The broker has made sure that all users who join them have access to a pretty good interface. There are no technical issues or lagging issues with the platform. If you just found something, know that it will be dealt with as soon as possible via customer support.

The brokerage company uses mobile and web services. Since the company offers a range of trading platforms, including their browser-based Webtrader, MT4 and MT5, you can access global markets anytime and from anywhere. You can also trade and manage your account in real time using the iToroStocks mobile app, available for Apple and Android smartphones.

It features a good color palette that is easy on the eyes and user-friendly. Every component of the official iToroStocks website that a customer would be interested in is displayed on the homepage. According to this Review of iToroStocksnavigating the trading platform is also simple.

● Multiple Trading Instruments: The trading instruments available on this site are diverse. Additionally, clients can execute trades simultaneously using a variety of instruments. Clients have a fantastic chance to diversify their portfolios using various trading instruments.

● Customizable graphics: The trading platform has accessible specialized charts. Traders can customize their chart settings according to their goals and knowledge. The use of technical indicators, pivot points, and support and resistance levels help users understand the market.

● Filtering features: On the iToroStocks trading interface, you can filter by currency pair, time frame, symbol price, volume, and trade type.

Following this, in this Review of iToroStocks, we will look at the pricing method of this broker. The management, administrative and other fees of this broker are modest. The customer can also exchange currencies at a reasonable cost and without paying any fees, which is amazing.

The company has designed a fee and commission structure that is attractive to clients looking for leverage and increased profits. Additionally, if customers tie up their money for a year or more, they will receive a discount in the form of a lower cost structure. Also, there are no hidden fees with this broker.

The many types of accounts offered on the site are described below as part of this Review of iToroStocks:

This broker offers a variety of accounts to its clients. Additionally, the forex platform does a great job of ensuring that each account is suitable for users with different financial limitations. $250 is the minimum investment at iToroStocks.

The website offers five account levels: VIP, Diamond, Platinum, Gold, and Silver. For newbie traders, it also provides a demo account. For the best return on investment, this broker allows new traders to join the Royal and Yacht Club as elite members.

However, merchants had to meet the following conditions to join:

● Investment portfolios with a value greater than 1,000,000 euros.

● A transaction that has occurred 10 times per quarter in the previous four quarters.

● For several months, overview of the trading industry on a restricted basis.

Traders can get many benefits including one-of-a-kind cash, club-specific debit card, crypto management, zero commissions, and maximum investments. Practice money is fully functional in the demo account. This website is designed for Forex traders who want to make money without risking their own money.

This website offers a wide range of accounts for different merchants which is amazing. Their gold account, among other things, provides 1:50 leverage and a risk management team. The other four accounts offer fantastic benefits such as leverage of up to 1:200, low trading fees, specific risk pool monitored 24/7, and much more.

This broker’s customer service team is outstanding. It’s professional, fast and always ready to help. Customers can contact customer service staff through a variety of channels. Review of iToroStocks reports that a phone call to the team is a means of direct communication; another is to send an email.

Whichever approach is used, the crew responds quickly and works hard to resolve your difficulties. Support staff advise clients on market risks and threats and on solutions and strategies to reduce these risks. Plus, customer service is always there to help consumers stuck on a problem or a risky trade.

Trading has become easier with the company’s training tools available to customers. There is a plethora of free e-books accessible. Customers can download and print them easily. These e-books can help all types of traders. They are an excellent source of knowledge and information on the forex market. The platform’s educational offerings make it easy to tap into past trading knowledge.

Users can fund their accounts with bank transfers, VISA, SEPA, ETH, BTC cards, major e-wallets, and credit/debit cards. The site processes payments quickly whenever merchants use an e-wallet or credit/debit card. Moreover, this Review of iToroStocks also reports that the platform does not charge its customers for deposits or withdrawals.

· Get free insurance up to 2 million euros

For the benefit of its clients, iToroStocks provides insurance coverage from Lloyd’s of London. The insurance covers claims made by eligible customers (of iToroStocks (Europe) Ltd., iToroStocks (UK) Ltd. and iToroStocks AUS Limited) who have suffered losses as a result of the bankruptcy of iToroStocks or a case of misconduct.

The insurance covers up to 2 million Euro, GBP or AUD (depending on the regulated entity), subject to any excess amount, up to the aggregate maximum purchased by iToroStocks. Cash, all CFD positions and securities are all covered by insurance. It should be noted that trading in non-CFD crypto assets may be covered by this insurance, as specified in the relevant policy.

Suggestions:

By reading this Review of iToroStocksyou have already learned about the useful services and features of the platform.

The proposals below are intended to push the broker to new heights.

They don’t accept PayPal

Some people prefer PayPal over other payment options because of its efficient features. PayPal, unfortunately, is not a payment option on this brokerage platform.

There are no video courses on the platform to help someone understand trading. Some users find this difficult. Some videos can be useful teaching aids. As a proposal, this site should include video training to help newbie traders.

Final remarks

It’s okay to experiment with several ideas before settling on one. You should also be aware that a broker who works for one company may not work for another. Although iToroStocks interface has some flaws, I think this forex broker is one of the best for new traders. And I hope you found this Review of iToroStocks be informative.

Disclaimer: This article is not intended as a recommendation. The author is not responsible for any resulting company actions during your trading experience.

Norton Broker Services Adds TAB to Panel of Lenders

Donald C. Leak — Wed, 27 Jul 2022 08:18:03 +0000

“More and more brokers are realizing the benefits of bridge financing and how it can help their investing clients achieve their goals”

Sonny Gosai, Senior Director of Sales and Development at Norton Broker Services, said: “I am delighted that we are now offering TAB and its range of bridging loans through Norton Broker Services. More brokers are realizing the benefits of bridge financing and how it can help their investor clients achieve their goals, and lenders like TAB are providing the flexibility to make deals work in often complex situations.

“Industry expertise is key in this market, which is why we always recommend partnering with a company like Norton Broker Services who have the experience, knowledge and contacts to ensure the best outcome for the client. .”

Dave Jackson, Business Development Manager at TAB, added: “I am delighted that we are now a member of the Norton Broker Services panel, this is a great step for TAB. It shows that we reflect our values of trust and transparency, and that this is understood and appreciated by respected packagers such than Norton Broker Services.

“TAB is delighted to offer our full range of bridge and development finance to its Authorized Representatives and to provide its customers with efficient and respectable loans.”

Norton Broker Services Adds TAB to Lender Panel

Donald C. Leak — Wed, 27 Jul 2022 07:00:00 +0000

Norton Broker Services has added TAB to its panel of lenders.

The agreement will allow brokers using Norton Broker Services to access a range of residential and commercial first and second load bridging loans, development finance and renovation products from TAB.

TAB, which launched in 2018, has developed a lending model that allows it to consider a wider range of a borrower’s circumstances while still being able to finance a range of projects.

Sonny Gosai, Senior Director of Sales and Development for Norton Broker Services, said: “I am delighted that we are now offering TAB and its range of bridge loans through Norton Broker Services.

“More and more brokers are realizing the benefits of bridge financing and how it can help their investor clients achieve their goals, and lenders like TAB are providing the flexibility to make transactions work in often complex situations.”

TAB’s Head of Business Development, Dave Jackson, adds, “I am delighted that we are now a panel member of Norton Broker Services, this is a big step forward for TAB. This shows that we reflect our values of trust and transparency, and that this is understood and appreciated by respected packagers such as Norton Broker Services.

Enigma Securities Receives FINRA Approval for Corporate Securities Brokerage Services

Donald C. Leak — Tue, 28 Jun 2022 12:49:00 +0000

This designation reinforces the company’s position as a leader in equity securities in the technology sector, providing liquidity and a commitment to transparency and data security.

NEW YORK, June 28, 2022 /PRNewswire/ — Enigma Securities (“Enigma”), a broker-dealer providing liquidity and advisory services, announced today that it has received approval from the Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer for corporate equity securities.

Enigma Titles

“We are fully aligned with FINRA’s mission to ensure the continued growth and innovation of financial markets. In today’s rapidly changing landscape of digital and traditional finance, Enigma is committed to providing execution services exceptional to a wide range of institutional clients and professional investors in the traditional equity securities asset class, as well as its affiliates, which additionally offer services in digital assets,” said Ian EpsteinChairman of Enigma Securities and Global Head of Digital Assets at Makor Group.

Raising its regulatory profile with FINRA approval and registering with the Securities and Exchange Commission uniquely positions the US broker whose affiliates have global reach to provide its institutional clients with a much higher level of transparency and insurance when trading equity securities of companies. The firm said it was proud to announce FINRA approval and hold this traditional financial integrity certification because it helps clients execute, advise and structure their assets.

“In the current environment, we are exceptionally pleased to raise the regulatory profile of Enigma Securities Inc. FINRA’s approval will help us achieve the long-term vision of Enigma and its affiliates, serving our clients institutional investors in both traditional financial securities and digital assets,” said Michael Halimi. CEO of Makor Group.

About Enigma Securities

Enigma Securities is part of a larger franchise which includes Enigma Markets and Enigma Ltd UK, all of which are owned within the Makor Group. For more information about Enigma, visit enigma-securities.io.

About Makor Group

The Makor Group (“Makor”) is an international brokerage and investment banking firm based in March 2011 by Michael Halimi and Avi Bouhadana, two former senior executives of Cantor Fitzgerald Europe. Makor is authorized and regulated by the FCA and Makor’s principal business is to provide financial securities research and execution services to institutional investors across a range of products including cash equities, income derivatives fixed income, currencies and corporate equity securities. With offices at New York, dallas, London, Paris, Geneva, Gibraltar, monaco, Tel Aviv, Singapore and melbourne, and more than 200 group associates, Makor offers its clients 24-hour global trading providing a single point of contact for more than 90 execution venues in cash-only equities. In addition to the Makor-branded entities, the group includes the brokerage firm Oscar Gruss & Son, Inc. based in New York and Makor’s cryptocurrency arm, Enigma Securities. Moreover, in June 2021Makor acquired the brokerage business of Churchill Capital which expanded its offering by New York and London and added offices in monaco, melbourne and Singapore. Makor has also recently expanded into investment banking, advising on origination and execution of M&A transactions and capital markets. Makor provides clients with original and innovative trading ideas specializing in risk arbitrage, special situations, relative value and client event opportunities and consistently ranks in the Top 3 in buy-side research surveys. For more information about Makor, visit makor-group.com.

Contact
Elle Welch
Senior Account Manager, IDPR
423-605-5553
[email protected]

Quote

View original content for multimedia download: https://www.prnewswire.com/news-releases/enigma-securities-receives-finra-approval-for-corporate-equity-securities-broker-services-301576433.html

Enigma Titles SOURCE

Global Data Brokerage Services Market 2022-2030 by Type, Component, Industry, Region – mbu timeline

Donald C. Leak — Wed, 08 Jun 2022 14:51:24 +0000

Research report titled Global Data Brokerage Services Market by Player, Region, Type, Application and Sales Channel, Forecast 2022-2030 provides insights on lucrative opportunities in the Global Data Brokerage Services Market at country level. It also includes business development, regional values, latest trends, segments and accurate cost of products offered by renowned companies across the globe for the forecast period.

Major players/manufacturers include:

Acxiom
Ali Baba
Bloomberg
CoreLogic
Data filter
Equifax
Experian
FICO
HIG Capital
HG data
IBM
Ignition Technologies
IHS Markit
Lifelock
Moody’s
the morning star
Nielsen
Oracle
A look
Qlik
RELX
Thomson Reuters
TowerData
Trans Union
Wolters Kluver

Get a sample report on: https://courant.biz/request-sample/?id=88523

Our new report further provides quantitative and qualitative estimation of various competitive market elements and attributes including competition landscape, research methodologies, market dynamics and definition.

It also provides detailed information about product development platform and data brokerage services market analysis. It examines the current state of the data brokerage services market and helps stakeholders plan for future growth and expansion.

The market dynamics section includes a detailed analysis of key developments, recent trends, and growth rate that play a significant role in the global data brokerage services market. This analytical report also provides a comprehensive picture of industry dynamics. It also covers multiple growth drivers.

Moreover, it tracks the latest developments in the data brokerage services market to help business owners and entrepreneurs make more profit. The report provides an accurate scenario of the global market to business owners on the current market opportunities, key market drivers, projections, and restraints. This would allow stakeholders to access long-term opportunities in the global data brokerage services market.

The comprehensive research report analyzes the data changes and their influence on the market at global and regional levels. At the same time, it assesses the overall growth of major market players along with their abilities to control and manage profit levels. This information is extremely important for any investor wishing to open and develop his company in the same market.

Regional Segment Analysis

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia, etc.)
South America (Brazil, Argentina and Colombia etc.)
Middle East and Africa (South Africa, UAE and Saudi Arabia etc.)

Product type segments:

Consumer data
Commercial data

Application type segments:

BFSI
Retail and FMCG
Manufacturing
Media
Government sector

Sales Channel Segments:

direct channel
Distribution channel

Please check in detail: https://courant.biz/report/world-data-broker-services-market/88523/

The report records and tracks significant events such as research activities, new product developments, achievements, joint initiatives, and business combinations in the market. Our main goal is to give our stakeholders a growth map through this report that they can calculate to take advantage of additional growth opportunities.

The report attempts to provide investors with an accurate prediction for the development of the Data Brokerage Services market over the forecast period (2022-2030) by providing a detailed analysis of the latest trends and major changes that would provide a framework for the major players calculating their market growth potential.

Multiple data sources and research methodology

The market study of this report includes several broad outlines that cover different sections of the market. The plan is created on the basis of two main main sources, namely annual reports and press releases of major players operating in this industry. We also gathered views from secondary sources, such as researchers, experts, analysts and scholars.

Some of the other sources include associations, government websites, trade journals, and industry magazines which have been vetted to gather precise data on several opportunities for business expansion in the Global Data Brokerage Services Market. We have considered other important factors such as social, political, economic and similar scenarios for the market domain included in the report with appropriate terms to enlarge the scope of the market.

Additionally, the market report examines the size of the industry in terms of the value of each segment. It also explores new data in the global Data Brokerage Services market along with how the various market dynamics are expected to change over time.

Check the table of contents: https://courant.biz/report/world-data-broker-services-market/88523/

Report customization:

This report can be customized to meet customer requirements. Please contact our sales team ([email protected]), which will ensure that you get a report that suits your needs. You can also get in touch with our executives at +1 (210) 807 3402 to share your research needs.

In the spotlight with Sonny Gosai, Norton Broker Services

Donald C. Leak — Thu, 14 Apr 2022 14:00:46 +0000

“The bridge market hasn’t slowed down like many people expected and I can only see that trend continuing as we head into 2022.”

EN: You joined Norton Broker Services (NBS) at the end of 2019 and have since been appointed to lead its transition and development team. Tell us about your background and what your role entails.

I have over 20 years of experience in the world of specialist finance, first as an underwriter in the loan origination service, second in charge, Loan Processing Centre. It was here that I gained valuable knowledge of the specialist market, which laid the foundation for a long career in the sector. Over time, I rose through the ranks to more senior roles, including leading and growing specialist distribution companies, such as Clever Lending, where I spent six years.

My current role at Norton Broker Services offers a wide variety, which is very important to me in terms of job satisfaction. I am responsible for nurturing lender relationships, keeping abreast of industry changes, dealing with brokers and clients, and developing Norton Broker Services’ bridging and business service, while ensuring that we provide exceptional service. I also maintain a keen interest in Norton’s lending arm – Norton Home Loans.

FR: 2021 seems to have been a revolutionary year for bridge financing due to the suspension of stamp duties. How do you see 2022 shaping up for the sector?

Last year was an amazing year for bridging finance and even after the stamp duty holiday ended the bridging market hasn’t slowed down like many people expected and I can only see that trend continue as we head into 2022. The stamp duty holiday highlighted the speed and flexibility of the bridge loan industry during a very volatile time for the mortgage market, and I believe the speed and flexibility will continue to prove essential for those looking to compete quickly with a real estate transaction in the future.

As a business, Norton saw its strongest growth ever in the regulated bridge industry last year and we now have a dedicated team focused on providing advice to brokers as inquiries are more higher than they have ever been. The LTV ratios offered by some lenders have also increased as they seek to take on more risk, and rates have been on a continued downward run, showing that the market is competing for business that is clearly in demand. I don’t know how sustainable that is, but it’s good for the consumer and good for the industry.

FR: Do you think that the new EPC rules for owners will encourage more owners to seek bridge financing as an option to finance renovations?

Almost certainly, because bridging loans are an ideal way for landlords to finance the work needed to renovate their properties so that they can improve their EPC ratings and bring them up to the standards required for rental. Buy-to-let already accounts for the vast majority of bridge loan activity, and with a high number of properties not meeting the required EPC standards, I expect demand for bridge loans to increase further to meet the requirements.

Research from Shawbrook Bank has also shown that more portfolio owners are likely to buy D-rated and below properties to refurbish before the EPC deadline than non-portfolio owners. This opens up more opportunities to use a bridging loan to quickly access funds to renovate and increase the value of their properties before selling for a profit, while those left behind could benefit from the preferential interest rates of a mortgage. green once the property’s EPC rating has been improved.

FR: Development finance can sometimes seem very complicated and specialized. How do you think more brokers can write this type of business and how does NBS support brokers, especially if it’s their first time?

Development finance can be a very complex area for brokers who are unfamiliar with how construction, conversion or major building renovations are financed, so speaking to a specialist like NBS is the best course of action, especially if it’s their first time. This will help them better understand what development finance is and how it works.

At Norton Broker Services, we talk to them about the information required from lenders before approaching them for difficult terms; we also explain the process in simple terms to the client and the broker, which helps to clarify and understand the offer. At NBS we advise, educate and support the broker through the process and the more they use Norton the more they will understand the market. Norton prides itself on its specialist knowledge and we want to pass this knowledge on to brokers to enable them to identify these types of specialist cases in their day-to-day work.

FR: What is your wish for the gateway and development market in 2022?

There should definitely be more education on the benefits of bridge financing and development for brokers. At NBS, we aim to do this on a daily basis, but I believe the industry as a whole needs to work harder to continuously provide information to brokers so they can more easily identify transition and development opportunities.

The industry is growing and there is a large and ever-increasing demand for knowledge from mortgage brokers. It is our job to ensure they get the information they need so they and the industry can continue to thrive.