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In The Spotlight
- Family debt advice business scoops Franchisee of the Year award
- Dundee-based brokerage wins Business of the Year award for debt solutions
- One advisor, two debt management referrals and over £600 commission
- Former mortgage packager tells of transition to award winning debt advisor
- EuroDebt and mortgageforce partnership goes from strength to strength
One advisor, two debt management referrals and over £600 commission
Wednesday 28th July 2010.jpg)
Darren Newton, mortgageforce
Having recently signed up to the EuroDebt Introducer Scheme, Sleaford-based mortgage advisor, Darren Newton, has already been able to help two of his existing clients take control of their finances and refer them to debt management plans.
As well as retaining clients who he could not arrange remortgaging or secured finance for, he has also been able to organise their life policies and earn £620 of commission in just two cases.
Darren, part of the mortgageforce network, which recently won Network Partner of the Year in the 2010 Debt Management Today awards, diversified into debt solutions five months ago and joined the EuroDebt Introducer Scheme.
Darren said: “When EuroDebt approached mortgageforce about working together it made me think about getting involved in debt solutions and helping my clients through that. We’re seeing record rates of insolvency at the moment and some debt management firms out there definitely do not have the ethical stance that EuroDebt have.
“One of my clients went to a big company and was put forward for an IVA that she simply couldn’t afford. My clients will always be my clients and I wanted to give them reassurance by passing them to reputable people.”
Working with his regional debt advice mentor and EuroDebt franchisee, Paul Sowerby, Darren has already made a dozen referrals to him and says his clients always give him great feedback after their meetings with Paul.
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Paul Sowerby, EuroDebt franchisee
One of his clients who was £18,920 in debt to three creditors, and was struggling to meet the monthly repayments of £535 was given a face-to-face meeting with Paul, who managed to cut his monthly repayments down to £135 by signing him up to a debt management plan.
What’s more, Darren was also able to sign up his client to a life policy that he was previously unable to afford.
Darren then saw a couple who owed £11,890 to four creditors and had ‘maxed out their cards’ paying £519 a month in repayments. After putting a debt management plan in place the repayments were reduced to £190-a-month.
Remarking on their strong relationship, Paul Sowerby said: “Darren is very proactive. We see each other on a regular basis and always discuss ideas about how to develop his referrals.”
With a prominent presence on one of Sleaford’s main streets, Darren will be expanding the company’s size by 100% as of September, by taking over next door’s office, dedicating the downstairs, as well as the windows, to promoting debt solutions.
Other initiatives include holding training sessions for his mortgageforce colleagues to make them aware of EuroDebt’s services.
Paul Sowerby added: “Darren’s success is down to his belief in the product we offer. Not only are these referrals an additional source of income but he knows his clients are going to receive the best possible service and is making sure he looks after them in the good times as well as the bad.”
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