Mortgage Talk reveals record profits
During 2005, the Rotherham-based mortgage broker placed 7,500 mortgage applications, amounting to a total of £815 million lending, comparing to a figure of £692 million in 2004 – an increase of eighteen percent. The target for the 2006 period is £920 million.
‘We entered 2005 after a poor fourth quarter in 2004, when the mortgage market as a whole experienced a sudden and dramatic turndown in borrowing, affected as much as anything by the implications of ‘M-Day’. After analysing our sales statistics, we identified areas within our activities where performance could be improved. This resulted in the introduction of several operational changes, including a move to compact working teams with clear lines of authority and responsibility,’ stated managing director Andrew Frankish.
‘During Q3 & Q4 of 2005, our sales remained consistently good and I’m very pleased to report that November 2005 witnessed us recording our best ever sales performance, confirming that all our efforts over the past twelve months had been worthwhile. We enter 2006 confidently, secure in the knowledge that we have the teams, the systems and the knowledge to respond rapidly and accurately to market changes and to take advantage of any
possibilities that present themselves. With many borrowers expected toremortgage as well as buyers moving home during 2006, we anticipate that this year will see us extending our position further as the UK’s leading mortgage broker,’ he concluded.