igroup results close to £1bn for third quarter

Igroup gross new originations topped almost £1bn in the third quarter of 2003.

When compared with the equivalent period of trading in 2002, the number of accounts written rose by 21% and their total value by 23%.

The company says this puts it on track to break through the £3.5bn new lending figure by the end of the year.

Colin Sanders, chief executive officer at igroup, says: “Third quarter results confirm igroup&#39s continuing appeal as a responsible provider and servicer of specialist mortgage products.

“igroup&#39s challenge is to ensure it remains a first choice provider for many of the introducers working hard to satisfy continuing consumer demand. To do this the company must ensure it meets and exceed the expectations of an industry and public ever more demanding of high business and regulatory compliance standards.

“The company ignores this at its peril. Quite simply, therefore, standing still is not an option. Those who currently work with the company know it is not the igroup way and it expects its full year results and those for 2004 to reflect this.”