This is yet another innovation from Promise to help those brokers experiencing difficult trading conditions.
Steve Walker, Managing Director at Promise said:
“Introducers will be paid by cheque or BACS within 24 hours of the loan completing. We will then wait to get paid ourselves which, with some lenders could mean introducers receiving commissions nearly two weeks sooner.
"We know this comes with a risk to Promise as on occasions a lender can advise that the loan has completed when in fact it has not.
“There is no change to our market beating commission structure and service. Introducers will still get free use of the sourcing platform, free comparison/compliance audit and our average commissions remain over £1200.
“Cash flow is tremendously important for many of our brokers and we believe no other master broker is helping it’s introducers in this way.”
John Malone, Executive Chairman PMS, commented:
“Well done to Steve Walker and Promise Solutions for this very timely business decision which we know will help our members, especially where cash flow is an issue within their business."
