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The Good Mortgage Company returns to profit

The Good Mortgage Company has returned to profit and is looking for strong growth in 2012 following its acquisition by The Buy-to-Let Business in April 2011.

Yuan Phoon, 5 January, 2012

Last year The Good Mortgage Company entered administration following the loss of funding from its main shareholder Octopus.

Soon after The Buy-to-let Business acquired the company for an undisclosed sum, and it has now returned to profitability.

Ying Tan, managing director of The Buy-to-Let Business, said he felt that it was now ready for The Good Mortgage Company to become a strong competitor in the residential space with a big focus to cross-sell protection products.

He said: "Following our acquisition of The Good Mortgage Company, we now feel as it is ready to become as strong in the residential sector as The Buy-to-Let Business is in its space.

"We have spent most of 2011 ensuring that our acquired pipeline revenue materialises and systems, processes and staff were well integrated.

"The infrastructure is now in place and should provide a solid base in which to grow in a strong and sustainable manor in 2012"

"Of course we will take our time and grow inch-by-inch and foot-by-foot as we compete with other big players in the residential space, but I am confident we will move closer to our long term strategic vision of being significant in this area."

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