Just Mortgages has launched a scheme to help principal firms attract experienced advisers who are transferring from an employed role to self-employed. 

The commission advance scheme will see firms receive a payment of £1,500 per month for three months to pass on to their newly authorised brokers. 

The new initiate has also been structured so that no repayment is due for six months providing the time for the member to build their business. 

This comes in addition to Just Mortgages’ current commission advance scheme where newly self-employed brokers can receive £2,000 per month for the first three months.  

Just Mortgages’ national director of the self-employed division Carl Parker says: “We have worked hard to put in place everything a broker needs to prosper in a new self-employed role.”

“The existing commission advance scheme has provided a lifeline for those brokers taking the step to independence as a self-employed broker and so we’re delighted to launch this new initiate for principal firms.”