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.
“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.”