View more on these topics

Two big networks plan to double in size this year

Two of the industry’s biggest networks are gearing up for recruitment drives, fuelling talk of consolidation in the sector.

Pink Home Loans and The Mortgage Times Group have unveiled plans to double in size by the end of the year.

Pink’s strategy is to expand by acquiring rival networks while MT aims to recruit appointed representatives from other networks as well as directly authorised firms.

Chris May, director at MT, says: “We are going to double our figures without having to acquire any firms.”

Rival network Prestbury recently said that it is open to takeover offers.

Francis Maude, chairman of the Conservative Party and chairman of Prestbury, says: “It is widely accepted that the mortgage and insurance distribution market needs to consolidate.”

Recommended

PNP chooses MortgageStream

Premier Network Partnership has opted to use MortgageStream’s case management system.MortgageStream is an offline system and therefore instantly links in both directions with the advisers own choice of offline mortgage sourcing, either Trigold, Mortgage Brian, Mortgage 2000 or Home Buyer Systems. Steve Moorley, managing director at PNP, says: “In choosing MortgageStream, PNP’s remote working advisers […]

Woolwich launches lifetime tracker

Woolwich has launched a tracker guaranteed to stay 0.18% above the Bank of England base rate for life, with no arrangement and no redemption penalties.The launch coincides with a new TV advertising campaign as well as the release of a 10-year fix at 5.28%.Andy Gray, head of mortgages for Woolwich, says: The improvement in the […]

Hipstar may take 10% of the HIPs market

Richard Griffiths, chief executive of Network Data Holdings, says subsidiary Hipstar will take at least 10% market share when Home Information Packs become compulsory later this year.

Europe: why persist with value today?

By Rob Burnett, Neptune’s Head of European Equities The Neptune European Opportunities Fund remains committed to a value bias. We see a broadening array of opportunities in diversified industries at compelling valuations today. The most complicated part of the market is the European banks. We are currently overweight in this sub-sector as many banks are […]

Newsletter

News and expert analysis straight to your inbox

Sign up