Mortgage Times/Vision Network

TripAces

Hi Mortgage Brokers of the World!

Heard that Mortgage Times/Vision Network are on the verge of administration? Anyone shed any further light on this?

Thanks in advance

payless

No idea about that firm in particular, but I'm sure all the mortgage focused networks / clubs ( big and small) are feeling the pinch ... most need volume to justify there expenditure - and with broker business down / some leaving industry this must be being hit.

Network Data gone already ( although as they were also HIP support / providers they had other issues as well)- no doubt leaving money owing to advisers

For those not in the industry - The firms mentioned are effectively "support " clubs , that earn their money by commission share or fees from advisers for offering support services.. some are are also a step further where they take on the authorisation from the FSA for regulated business, and then advisers work under their " licence" whilst usually still trading under own identity instead of beintg directly authorised themselves .. there are pros and cons to both routes.