Mortgageforce losses: Strong recovery ahead
Kevin Duffy, managing director, said: “The period spanned a tough 2011 during which we made the gritty decisions to maintain staffing numbers and broker support at levels greater than what the market conditions then actually required.
“With each month’s applications now setting new records those decisions have been vindicated.”
The Derby based business was the subject of a management buyout two years ago from West Bromwich Building Society who retained a stake in the business.
Duffy added: “We are privileged to have a shareholder base which is both knowledgeable and supportive and encouraged by the government stimuli we are targeting lending volumes for 2014 of over half a billion pounds.
“The business is well positioned for growth and we will be expanding our London footprint early in the new year.”