Scottish Life Mortgages (SLM) has teamed with Dublin-based Xelector to launch an online supermarket for banking products aimed at helping its mortgage broker intermediaries generate alternative income streams.
The portal, which went live earlier this month, provides intermediaries with access to a range of personal loans, credit cards and household insurance products from a number of providers. Commission, of varying degrees, is available on all products.
Xelector, a provider of marketplaces for financial services and utilities products, says it will work with SLM in the coming months to increase the range on offer to include products such as conveyancing and will writing services.
Steve Scholes, SLM director, says: "Feedback from intermediaries indicates clear demand for ways in which they can not only increase client loyalty through adding value, but also for alternative sources of income."