Network Data Holdings - Network Data Limited

About Us - Network Data Limited (NDL)

NDL operates a network, regulated by the Financial Services Authority (FSA), through which brokers can place mortgage applications and insurance proposals with lenders and insurers. NDL is one of the largest mortgage networks in the UK.

The majority of UK consumers choose to use a broker when applying for a mortgage or choosing an insurance product as the wide range of products in the market make it hard for them to decide which products would suit them best.

Under FSA regulations, all mortgage and insurance brokers must chose between being directly regulated by the FSA or becoming an Appointed Representative of a firm such as NDL. NDL does not deal directly with the public.

NDL provides a way for small firms to operate within the FSA's rules, but without incurring the full administrative and regulatory burden of obtaining FSA approval. An Appointed Representative provides regulated mortgage and insurance advice under the auspices of NDL and is obliged to pass all its business through NDL. Appointed Representatives pay a monthly fee in order to benefit from NDL's services.

NDL receives commissions and procuration fees from lenders and insurance companies which it then transfers, net of its own remuneration, to the relevant Appointed Representative.

As well as reducing the administrative burden of FSA regulations, NDL also provides training and compliance services to its Appointed Representatives

NDL has a whole of market approach and can offer, through its Appointed Representatives, products from over 90 lenders and 19 insurers. NDL is also the proprietor of the mortgageLink sourcing system which allows its Appointed Representatives to source and produce compliant illustrations for mortgage and insurance products from the lenders and insurers on its panels.