Financial Sector's very own ethical Robin Hood aims to save more than just money
23 April 2008
The world’s charities could receive the boost they need thanks to a new brokerage service launching today. With an estimated 1.4 million people this year coming off fixed-rate mortgages, the first Community Interest Company (CIC) to enter the financial services sector may be the answer that people trying to save money and the worlds charity’s are looking for.
The first financial service Community Interest Company (CIC) officially launches its new website today. The entirely fee-free brokerage service enables users to donate a sizeable amount to a charity of their choice, whilst receiving the help and advice they need on their finances. Quotes4Charity CIC provides a whole of market brokerage service for Mortgages, Life Cover and Home Insurance products. Whilst piloting the scheme, the CIC has generated an average donation to charity of £104.48
Daniel Hinde was the first person to use the service, and raised £90 for his chosen charity, the NSPCC, saving himself £100 each month on his mortgage repayments.
Dan comments:
“Like so many other people, I hadn’t reviewed my mortgage costs for quite a while. I heard about the pilot service through a friend, and contacted Quotes4Charity for advice. It’s a great company providing a competitive service whilst helping your favourite charity. I will certainly use them again in the future”
Another happy client is Jo Jones, who used the service for remortgage advice and generated a donation of £236.81 for her chosen charity, Contact a Family.
Jo comments, ‘It’s a great idea and I am sure there are many people who would be keen to do this, as you get a good brokerage service plus the feel good factor of giving to charity. Brilliant!’
www.Quotes4Charity.co.uk was founded by John Mulkerrin, who has worked in financial services both within the UK and abroad for more than 15 years. By using the brokerage commission from the bank or insurance company to pay for delivering the service, and generating the donations to charity, John believes it’s a win-win situation for all involved.
John said, “We’re proud to be the first CIC within financial services, the most lucrative business sector of UK PLC. The new legislation means we don’t have to focus purely on shareholder value, and can instead think about how to help deliver benefit to the community. Every time somebody uses our service, a large percentage of what would normally be profit will go to a charity close to their heart. A smaller donation also goes toward funding our Quotes4Kids projects, which provide education, mentoring and environmental assistance to children both within the UK and overseas.’
According to the Council of Mortgage Lenders, over 1.4 million people will finish their fixed rate mortgage terms this year, equating to over 100,000 people a month. Responding to this statistic, John added,
“If one month’s worth of people were to use our service, it could generate in excess of £10million for charity. This money would go on to make a real difference to so many people’s lives, and is just waiting to be generated.”
With the average UK mortgage of £140’000 generating a charity donation of more than £100, John firmly believes that Quotes4Charity can make a difference.
Cliff Prior, CEO of UnLtd, who recently unveiled their new social entrepreneurship platform UnLtdWorld, has benefitted from the service, and had the following to say,
“I have seen Quotes4Charity develop into a great business model, winning our Level 2 Business Award in the process. I have used the service personally, and wish to commend John, and Quotes4Charity’s efforts.”
Any charities interested in a partnership scheme should visit www.quotes4charity.co.uk or contact info@quotes4charity.co.uk to find out more.
Your home may be repossessed if you do not keep up repayments on your mortgage
1 Council of Mortgage Lenders
2 Average UK mortgage £140,408 - Council of Mortgage Lenders Gross Lending Figures January 2008
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The first financial service Community Interest Company (CIC) officially launches its new website today. The entirely fee-free brokerage service enables users to donate a sizeable amount to a charity of their choice, whilst receiving the help and advice they need on their finances. Quotes4Charity CIC provides a whole of market brokerage service for Mortgages, Life Cover and Home Insurance products. Whilst piloting the scheme, the CIC has generated an average donation to charity of £104.48
Daniel Hinde was the first person to use the service, and raised £90 for his chosen charity, the NSPCC, saving himself £100 each month on his mortgage repayments.
Dan comments:
“Like so many other people, I hadn’t reviewed my mortgage costs for quite a while. I heard about the pilot service through a friend, and contacted Quotes4Charity for advice. It’s a great company providing a competitive service whilst helping your favourite charity. I will certainly use them again in the future”
Another happy client is Jo Jones, who used the service for remortgage advice and generated a donation of £236.81 for her chosen charity, Contact a Family.
Jo comments, ‘It’s a great idea and I am sure there are many people who would be keen to do this, as you get a good brokerage service plus the feel good factor of giving to charity. Brilliant!’
www.Quotes4Charity.co.uk was founded by John Mulkerrin, who has worked in financial services both within the UK and abroad for more than 15 years. By using the brokerage commission from the bank or insurance company to pay for delivering the service, and generating the donations to charity, John believes it’s a win-win situation for all involved.
John said, “We’re proud to be the first CIC within financial services, the most lucrative business sector of UK PLC. The new legislation means we don’t have to focus purely on shareholder value, and can instead think about how to help deliver benefit to the community. Every time somebody uses our service, a large percentage of what would normally be profit will go to a charity close to their heart. A smaller donation also goes toward funding our Quotes4Kids projects, which provide education, mentoring and environmental assistance to children both within the UK and overseas.’
According to the Council of Mortgage Lenders, over 1.4 million people will finish their fixed rate mortgage terms this year, equating to over 100,000 people a month. Responding to this statistic, John added,
“If one month’s worth of people were to use our service, it could generate in excess of £10million for charity. This money would go on to make a real difference to so many people’s lives, and is just waiting to be generated.”
With the average UK mortgage of £140’000 generating a charity donation of more than £100, John firmly believes that Quotes4Charity can make a difference.
Cliff Prior, CEO of UnLtd, who recently unveiled their new social entrepreneurship platform UnLtdWorld, has benefitted from the service, and had the following to say,
“I have seen Quotes4Charity develop into a great business model, winning our Level 2 Business Award in the process. I have used the service personally, and wish to commend John, and Quotes4Charity’s efforts.”
Any charities interested in a partnership scheme should visit www.quotes4charity.co.uk or contact info@quotes4charity.co.uk to find out more.
Your home may be repossessed if you do not keep up repayments on your mortgage
1 Council of Mortgage Lenders
2 Average UK mortgage £140,408 - Council of Mortgage Lenders Gross Lending Figures January 2008
