Adviser

            Community

The Independent Resource for the Financial Adviser Community.

Site Map  Home

Home of Choice Mortgage Network, History and Information (No Longer Trading)

 

Currently comprising of the Home of Choice Group, Home of Choice Ltd, Home of Choice Financial Planning Ltd and Home of Choice Services Ltd with the accounts of the last two marked as dormant on Companies House.

 

November 2003

The unusual name for the network may well have been picked by Richard Coulson from his days at Zurich as commenting in an interview with Mortgage Strategy during November 2003 regarding the “Enterprise Homeloans” packager for the Zurich Advice Network he said "I am delighted that Enterprise, along with all the other mortgage-related benefits we provide, will ensure that Zurich is the natural Home of Choice for brokers seeking Appointed Representative status next year."

 

July 2005

Home of Choice began trading.  Major positions filled by Executive Deputy Chairman Richard Coulson, who was previously a director of Zurich along with two colleagues Chief Executive Officer Gerry O’Brien and Chairman Keith Baldwin. Also Keith Baldwin announces Zurich have been unsuccessful in their action against Richard Coulson.  Zurich (Openworks) say the case continues.

 

September 2005

Home of choice choose Trigold as their exclusive sourcing system with the company producing a branded customized version of the software for the network.

 

February 2006

Richard Coulson is promoted to CEO with Kevin Baldwin the current CEO taking the title of chairman of the network

 

October 2006

Friends Provident have bought a substantial stake in Home of Choice following the closure of their own network.  Also in October, Gerry O’Brien is promoted to Managing director.

 

July 2007

Home of Choice make the decision to stop loading insurance premiums.  Richard Coulson says “ We have decided to stop loading premiums on the one product they were available on”.  This puts them on par with other mortgage networks such as Lifetime Insurance Mortgage Experts (LIME) and Homeloan Partnership.

 

April 2008

Home of Choice has chosen focus:360° from Focus Solutions to upgrade it’s mortgage point of sale solution – Ignition.  Initially built by Focus, Ignition enables the recruitment, registration and support of new  intermediaries joining the network as well as the full application process.

 

August 2008

Mortgage Director Mal McConechy leaves Home of Choice, due to changes in strategic direction for the company.

 

January 2009

Home of Choice moves to a single supplier for general insurance.  Paymentshield are now the sole supplier of B&C and ASU.  Towergate which is Paymentshield’s sister company will provide cover for non standard properties.

 

February 2010

Bank of China added to Home of Choice lending panel. John Ahmed Commercial director said that he anticipated the MMR when it is finally introduced will lead to stronger relationships between lenders, mortgage networks and brokers.

 

May 2010

Home of Choice went into administration and it’s assets were bought by LSL Property Services.  The AR’s were encouraged to transfer to LSL rather than seeking a new network and many of them chose to do so as they were promised that they would be receive a payment in lieu of the pipeline commission they were owed if they transferred.

If you are currently looking for a new mortgage network we can help.  Please click here for our enquiry form or click on the following link if you wish to know more about Which Network Ltd