View more on these topics

Mawdsley sells stake in The Mortgage Partnership

John Mawdsley, managing director of Merseyside-based The Mortgage Partnership, today announced that he was hanging up his mortgage spurs – for the time being.

Mawdsley started in the mortgage market in 1974 at the Liverpool branch of the Hastings & Thanet building society.

He swiftly moved on to a management position at what was then the Midshires building society in 1977 before working his way up and being head hunted to help set up the Household Mortgage Corporation in 1986 with such luminaries as Gravity’s Brian Pitt, Beacon Home Loans’ Clive Wilson and Checkmate Mortgages’ Roger Brown.

After HMC Mawdsley ran a joint venture for Barclays’ where he project managed the development of mortgage application software. He then moved to Unisys to work on mortgage application processing systems.

Then, in 1997, he launched Wirral-based packager The Mortgage Partnership with remaining director Ian Ward.

Mawdsley, 58, sold his stake in the business this morning for an undisclosed sum.

He says: “After 30 odd years in the market I thought it was about time I started to have some fun.

“Given the state of the market I thought it was about time to get out.

“I’m not out of the market forever. I have a couple of other businesses interests that I’m going to devote more time too – one to do with horses and the other motor racing.

“I’m also talking to other mortgage industry professionals at the moment to do some work not directly related to the mortgage market.”

The Mortgage Partnership will continue to trade under the guidance of Ian Ward.

Mawdsley adds: “The fundamentals of The Mortgage Partnership remain strong. Ian has a good business in his hands and will continue to do well. I wish him every success in the future.”

Recommended

BoE ignores liquidity pleas

The Intermediary Mortgage Lenders Association has warned that appeals to the Bank of England to restore liquidity are continuing to fall on deaf ears.

Rates on the rise again

Mform.co.uk is predicting a lender U-turn on the recent rate cuts in the coming weeks.

Equity release thriving in crunch

The housing market is slowing, new mortgage volumes are falling – it’s a story we are familiar with, but the equity release market is thriving. Safe Home Income Plan’s Q2 figures, which came out this week, demonstrate how equity release is resisting the credit crunch with a 14% increase in business – an encouraging scenario considering the current economic climate.

Newsletter

News and expert analysis straight to your inbox

Sign up