Homebank on the acquisition trail

National mortgage broker, Homebank Financial Services is actively seeking to talk to mortgage brokerages who wish to explore the possibilities of selling their business or a merger.

Homebank, which has recently recruited new sales specialists for its national sales team, has seen profitability relatively unaffected in the current climate, having invested heavily over the last three years in automating its administration and processing.

George Dodds, chairman of Homebank says the company is reaping the benefits now that margins are slimmer and business more difficult to place and complete.

Dodds says: “We want to talk to principals of mortgage brokerages which are limited companies and directly authorised with a view to exploring the possibility of outright sale of their business or the opportunity to merge with Homebank.

“Our proposition works because our cost base is substantially smaller than the industry average. The fact that we are able to operate profitably in the prime market and still be recruiting suggests that we have the formula right.

“The integration of our proprietary MortgagePro technology, starting at point of sale right through the administration process and up to completion, has enabled us to operate with a significantly smaller headcount in expensive administrative roles which means that our cost base is the lowest in the industry but with no fall off in customer service.”

He adds: “There is an opportunity for brokerages who may be finding life a little difficult to realise their dream under the Homebank brand.”