PMS and Sesame achieve most mortgage completions since 2008

Michael Lloyd

February 7, 2018

PMS Mortgage Club and Sesame Network achieved their highest volume of mortgage completions since 2008 last year.

PMS and Sesame delivered £37.5bn of mortgage completions in 2017, a £2.9bn increase on the previous year when there was £34.6bn.

Mark Graves, managing director, Sesame and PMS said: “Our focus has been to help our members recruit new advisers and grow their businesses.

“This strategy has paid off, with strong growth in many firms across the network and mortgage club. In Sesame alone we supported the recruitment of 170 new advisers into existing firms last year.

“The second half of 2017 was particularly busy for our members, with product transfers entering the intermediary market more strongly.

“This trend combined with continuing high levels of remortgages led to a surge of business activity for our members. As more 2017 industry data emerges, I anticipate that intermediary versus direct market share of product transfer business will have shifted more towards advisers, and I expect to see further growth for advisers in 2018.”

Protection annual premium income (API) through PMS and Sesame rose by 15% last year to £63.7m, rising by £8.1m from £55.6m API in 2016 and general insurance policies written grew by 13%.

John Cowan, executive chairman of Sesame Bankhall Group said: “In a sluggish mortgage market PMS and Sesame members have recorded outstanding results, largely by delivering great customer service.

“Over the last 12 months we have seen the arrival of new innovators and challenger advice models, and they are stimulating the market to think differently.

“Over time all advisory businesses will deploy greater levels of technology, and this will be the enabler to free advisers to do what they do best – empathise, listen and offer advice.”

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