Igroup on target for £3.5bn

igroup gross new originations hit 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 first choice provider for many of the introducers working hard to satisfy continuing consumer demand. To do this we must ensure it exceeds the expectations of an industry and public ever more demanding of high business and regulatory compliance standards.”

And he adds: “The company ignores this at its peril. Standing still is not an option. Those who work with the company know this is not the igroup way – and that it expects its full year results and those for 2004 to reflect this.”

• Southern Pacific Mortgage Limited says it is to run a third series of regulation roadshows for its packagers following the publication of the FSA&#39s final mortgage rules.

The roadshows will take place in Manchester and London on November 21 and November 25. As well as presentations from the SPML compliance team there will be guest speakers and a question and answer session.

Details about the events can be found on the website www.spml.co.uk where videos of previous roadshow presentations can also be seen.