Sub prime remortgage leads

[s0luti0n]

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We are a directly authorised mortgage broker, specialising in sub prime and commercial business. We work on a national basis (can't do Northern Ireland), and once a customer has been provided with quotations on a new mortgage product we visit them to explain the mortgage in more detail and complete all the paperwork. Our average completion time for a remortgage, even in the current climate is 23 working days. We have access to all sub prime lenders who are still lending at the moment and the same goes for Commercial business.

Would any Affiliates be interested in working on a 50/50 split commission (less processing costs ie surveys etc) basis for leads that you generate. Reporting software is available and you can be updated on a daily or weekly basis as to where a case is up to.

Average case value is around £4000.00, processing costs are around £1500.00, so split of profit on this would be £1250.00 per case. Bear in mind that some cases are worth more.

If anyone is interested I would look forward to hearing from you.

[JayFCF]

Hi Solution,

Processing costs are HOW MUCH?? Sorry mate but you'll get a VERY poor response for posting that.

How can you jusitfy £1500?? Sound quite cheeky to me.

Cheers mate

[JayFCF]

Just another thought

What happens if total fees in are £2000?

Will you still take £1500 PROCESSING COSTS??

That means the affiliate would only get £250

Cheers

[123debtsolutions]

Steer clear of Solution Mortgages!

They haven't got a clue what the affiliate wants.....

He will never pay 50% of backend... Small time operator. He hasn't got a clue!

[RobOxeva]

If the processor was to write in a processing cost before calculating the profit, then the lead gen should also retreive the cost of the lead, be it £2 or £250 surely?

Rob | OXEVA

[s0luti0n]

In response to your posts. Processing costs are things like the cost of a valuation which can be anything from £195 to £700 (average £250), solicitors costs £500, Redemption statements & BSQ's £100 per request. As you can see the amounts are high. What we are saying is these costs would have to come out of any profit split. There is nothing cheeky about it.

In response to 123 Debt Solutions. We do not know who you are nor do you know us, so feel you are not in a position to make such comments. We had a phone call from you asking us if we would work on a 50/50 split basis because a couple of brokers who you were dealing with on this basis had gone bust. I wonder why? Because it does not work. This may have worked before lenders began greatly revising their criteria but now it will not as the volume is not there. We would lose money by operating on this basis.

We appreciate that affiliates need to get a good deal out of this type of set up and were under the impression that our post was providing that in the current climate.

[abc]

In response to your posts. Processing costs are things like the cost of a valuation which can be anything from £195 to £700 (average £250), solicitors costs £500, Redemption statements & BSQ's £100 per request. As you can see the amounts are high. What we are saying is these costs would have to come out of any profit split. There is nothing cheeky about it.

In response to 123 Debt Solutions. We do not know who you are nor do you know us, so feel you are not in a position to make such comments. We had a phone call from you asking us if we would work on a 50/50 split basis because a couple of brokers who you were dealing with on this basis had gone bust. I wonder why? Because it does not work. This may have worked before lenders began greatly revising their criteria but now it will not as the volume is not there. We would lose money by operating on this basis.

We appreciate that affiliates need to get a good deal out of this type of set up and were under the impression that our post was providing that in the current climate.

Dont u just love free business!!!!

Current climate states nothing is for free (except LTR) as companies are going out of business left right and centre..

You need to prove your worth to affilliates b4 we give u free business u do this by puting your hand in your pocket and offering a purchase order and if sucessful for both parties then commission basis can be acceptable

Rick

[s0luti0n]

I agree there needs to be a test and trust needs to be built up. However it goes back to us being prepared to buy leads at a vastly restricted criteria like we have been doing for the last 5 months.

Remember merchants are nervous in the current climate as we can spend £30,000 on leads in a month and not get a ROI for the leads, never mind are running costs. All adds up to a big loss for the month.

We have been in business a long time and have weathered many storms and have to be prudent. We are not looking to take the mickey and apologise if you feel we have.

We are not looking for free business, we are looking for ways that might work for both merchant & affiliate.

[leadsupplier]

Simon is potentially one of the biggest brokers that have come to this forum. There commisions and pay per leads are terrific. The pay-outs they offer will no doubt shock most but its the truth what he is saying. Some people should try and use... You won't be dissapointed.

Regards,

Umar

[JayFCF]

Solution,

Why do we the affiliates have to split the cost of things like valuations, solicitors fees and building society questionnaires?

Surely this should be footed by the client upfront or added to the loan size?

If it works for you thats fine but most affiliates find EVEN a true 50/50 difficult enough without having £1500 stripped before they even get paid.

I'm with you on val fee averaging £250. Sols fees £500 however surely you claw some of that back as a referal and if not you need to start introducing to someone else.

Cheers

[abc]

Solution,


I'm with you on val fee averaging £250. Sols fees £500 however surely you claw some of that back as a referal and if not you need to start introducing to someone else.

Cheers

Agreed u can get hem to sign forms defering the val till completion and added to the loan the same as sols..

If u used Goldsmith Williams they will pay u a referal fee of £200 (so i am lead to belive) some of us affilliates READ the trade press

Rick