The Right Mortgage ups profit

Mortgage Introducer

September 18, 2017

The Right Mortgage has increased its pre-tax profit and turnover in its second full year of trading.

The company, which owns The Right Mortgage & Protection Network and The Right DA Club, increased turnover to £14.8m with a pre-tax profit of £450,000 for the 16/17 tax year – up from £8.7m and £203,000 in the corresponding period last year.

Martin Wilson, chief executive of The Right Mortgage, said: “We are absolutely delighted with this year’s figures.

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“In two and a half years we are 60% towards our ultimate objective of having 500 members. Quality of service, a shared professional appetite to risk, and helping create income opportunities to our members is key to our growth.”

“Creating a well-run, profitable business will ultimately give us the foundations to build a long term financial services network that our members and ourselves can share in and be proud of.

“This year our FCA fees increased by over 600% and our PI costs more than doubled; we will not be passing this on to our members.”

 

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