RAMP reports completions increase
RAMP, representing some of the UK’s biggest mortgage distributors, supports members with a comprehensive compliance, training and product design framework. It finished 2005 with completion figures nearly 30 per cent ahead of 2004.
Commenting on the figures, John Rice, managing director of RAMP, said:
“Having gone through the adjustments caused by regulation and the slowdown in the property market early last year, the brakes are off now as the market improves. RAMP has provided a focus point for the professionalism of our members and amplified the importance of coming together as a group to maximise opportunities to work together. The market will continue to consolidate in 2006 and more takeovers and alliances in the industry are likely as competition hots up.”
Roger Morris of em-, a founding member of RAMP, said: “The start of 2006 is shaping up to be a huge improvement over this time last year. As part of RAMP, we have weathered the uncertainties caused by regulation better than most and are looking with confidence to having a vintage year.”
Dev Malle, director of sales at Pink Home Loans, said: “I’m not surprised by these figures, January 2006 is a very different market from January 2005. To compare, Pink’s completions have risen over 100 per cent from figures from the same period last year and if there weren’t increases in the numbers then firms should be worried.”