The Money Centre Buy-to-Let

IMPORTANT ANNOUNCEMENT From The Money Centre Website 18th December 2009

Lloyds Banking Group, which now owns a Monopoly over the buy-to-let mortgage market, have chosen to refuse to accept new business applications from The Money Centre.

They have done this without providing us with an opportunity to meet the decision makers to review their rational or to appeal their decision.

This is despite the fact that The Money Centre has introduced £866 million of completed mortgage business over the last 5 years to the organisations Lloyds Banking Group now control.

As a result of various banking mergers and takeovers in recent times, mortgages introduced by us to Lloyds brands including Halifax, Birmingham Midshires, Bank of Scotland etc. have accounted for over 40% of our recent business submissions.

Our inability to refer our clients’ applications to Lloyds banking group seriously affects our status and our ability to treat customers fairly. Accordingly, the business has been left with no real choice other than to cease providing advice and accepting all new applications with immediate effect.

All existing applications will continue to be processed as normal.

As you might expect, we are considering our position very carefully and we will of course keep you informed as matters progress

ENDS

The top buy-to-let pitfalls and how to avoid them - December 2007

More information about The Money Centre

How The Money Centre became one of the UK's favourite buy to let mortgage brokers

The mortgage brokerage market is huge, complicated and fiercely competitive. From relatively modest beginnings, The Money Centre has now firmly established itself in this demanding marketplace. Mark Alexander and Michael Woodfine founded the company in 1990, with Clive Mason becoming a partner four years later. To begin with, growth was cautious and carefully planned. In fact, the first member of staff wasn't taken on until 1998. This attitude paid off, and now The Money Centre employs more than 200 people.

After a decade of successful trading, the original partnership prepared for stock market flotation. The company was duly incorporated as The Money Centre (UK) PLC, to give it its full title, in May 2003. The secret of its success is simple, and resides in two phrases that are often spoken but rarely practised: customer service and quality control. The Money Centre retains its clients because of the quality of service it provides. In fact, existing clients and client referrals form 80 per cent of the business, demonstrating how well the company's dedication to first-class customer service works. Their lenders regard the quality of The Money Centre's systems and procedures as an industry benchmark.

Today they are one of the largest buy-to-let mortgage brokerages in the UK ; providing more than 8000 online quotes each month or over £100 million worth of new applications. Much of their business is generated from website enquiries and they feature on over 200 leading financial and property sites. The website receives over 90,000 visits a month and our product database, which is updated daily, offers clients tailor-made illustrations of costs and returns.

To ensure high service standards are maintained in this market, which currently remains unregulated, The Money Centre is a member of The National Association of Commercial Finance Brokers (NACFB), an organisation of which the Directors are founding members, providing a Code of Practice registered with the Office of Fair Trading. The company ensures the mortgage process runs smoothly and efficiently and aims to do all it can to support clients with buy-to-let investments.

The Money Centre wins tops industry award for the third year running

25-10-07

The Money Centre is delighted to receive, for the third consecutive year, the award for ‘Best buy-to-let Mortgage Broker' from Mortgage Introducer.

Lynsey Sweales, marketing and PR director, for The Money Centre comments: "2007 has been our most successful year to date. We are always pleased to receive recognition for our dedicated contribution to the buy-to-let industry and this award reflects our continuous effort to provide a quality service to all our clients.

"The Money Centre has over 15 years experience within the buy-to-let industry and winning the award for the third consecutive year exemplifies what a professional and dedicated mortgage broker we are.

"This award would not have been achievable without the hard work of our staff across the UK . "