Y3S doubles annual profits
This compares to last year’s figure of £420,000 and £196,000 the year before.
The South Wales-based packager attributes its growth to strong demand for second charge loans and short-term finance from mortgage brokers and IFAs as well as its own investments in people and marketing campaigns.
Benson Yeadon, Y3S group finance director, said: “The past 12 months has seen another upward trend for Y3S despite the ongoing investment needed to implement the new regulatory requirements.
“Our secured loan and bridging finance divisions have benefited from organic growth in the sector coupled with an ambitious internal growth strategy.”
Barney Drake, Y3S operations director, added: “Over the coming years, the intermediary sector of the market presents a number of high-growth opportunities for our organisation, and we are well-positioned to take advantage of these.
“While some are predicting doom and gloom as the regulatory changes stay in the headlines, we continue to develop new and exciting ways for mortgage brokers to expand their horizons through our specialist finance products.”