View more on these topics

Simply Mortgages to start franchise operation

A mortgage broker who launched her business just three years ago is set to franchise the company.

Elaine Kellington set up Simply Mortgages in the bedroom of her home in Kelso on the Scottish Borders. She was formerly at Northern Rock in Edinburgh, which involved daily travel of 100 miles.

Within a year Simply Mortgages had moved into the centre of Kelso. Kellington has decided to franchise the company after being approached by people who wanted to share her success. She is now in a supporting role joined by management consultant Graham Fry, and branches of Simply Mortgages have been set up in Kelso, Eyemouth and Edinburgh.

There are plans a for a new branch in Galashiels in January and five more branches next year. In the long-term Kellington aims to grow the network throughout Scotland and the north of England.

Kellington was recently one of the two runners up in the Outstanding Contributor to Business Award organised by The Association of Scottish Businesswomen.

She says: “As banks and building societies close their offices in towns and rural areas the level of service is being reduced. Simply Mortgages plans to move into these areas to give people requiring mortgage advice more choice.

“Getting the right people is vital for the success of the franchise operation. Franchising gives people the springboard to start their own business, with the advantage of support from the management team, because going down the self-employed route with lots of high and lows can be tough.

“Our approach has to be structured and we have to give the proper support. My learning curve is going off the page as I adapt to the growth of the company. It&#39s not about short-term gain, it&#39s about long-term development in building a worthwhile asset.”

Recommended

Synergy launches autumn advertising campaign

Synergy Mortgage Processing has launched the first in a series of adverts which will run in a number of trade journals over the next six months. Synergy is defined as working together and the adverts follow this central theme, using an army of ants to represent a collective strength. Phil Womack, group director of sales, […]

Don&#39t be afraid of direct authorisation

Last week I came clean. I bared my soul and, while gritting my teeth, I wrote that despite being the chairman of a network, I felt that most mortgage advisers would be better off being directly authorised rather than via a network. Which is not, sadly, the case for IFAs.Now that we have seen what […]

Price inflation falls again

The Hometrack national November survey of the housing market reveals house price rises averaging only 0.2%, writes Helen McCormick.This is the sixth successive fall in house price inflation since May&#39s peak of 2.6%. The slowdown has been mostly the result of falls in higher value properties, mainly in London and the South East. House prices […]

ABI launches stronger code for sale of long-term care insurance

The Association of British Insurers has published of a new Code of Practice for the sale of long-term care insurance. The Code, which is binding on all members of the ABI, comes into force on 1st January, 2003. The Code requires ABI member companies to treat the sale and marketing of long-term care insurance as […]

Retirement fund - thumbnail

What price (more) freedoms?

George Osborne will make his last Budget speech of the current parliamentary term this week, and the early media briefings suggest that pensions will again feature heavily in that statement. So what are we able to learn from the weekend’s coverage?

Newsletter

News and expert analysis straight to your inbox

Sign up