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PTP celebrates record month

Personal Touch Packaging has passed 700 mortgage applications in a month for the first time in its short history.

This is a 136% improvement on March 2007 and passes the 10,000 mark for mortgages processed since the business started in January 2006.

Rob Jupp, managing director at Personal Touch Packaging, says: “Its great to be able to go to market with such a positive statement in what is extremely challenging times for all of us. Our strategy, in the mortgage liquidity era was deliberately aimed at low margin, high volume business.

“Although our credit crunch consultants are still placing good numbers of non conforming business, options have depleted significantly in recent weeks. The launch of version 2 of our system in the coming weeks will assist our aggressive growth plans for 2008.”

Jupp however accepted that earnings per case were significantly down on the same period last year.

He says: “In broad terms we have to do twice as much business to protect our profit margin but business partners such as Mortgage Express and BM Solutions allow us to slash our cost of processing due to the excellence of their systems.”


Derbyshire cuts 50 jobs and closes three branches

Derbyshire is closing three branches and cutting up to 50 jobs in an attempt to cut costs. The lender refused to comment on which branches would be affected.A spokesman for Derbyshire says a consultation period with staff has begun however it hopes to redeploy as many staff as possible.The news follows a reported a 47% […]

Stock Picker

Financial shares enjoyed healthy gains last week following a welcome injection of confidence into the US markets as a result of JP Morgan Chase’s revised $10 a share offer for Bear Stearns. HBOS rebounded strongly following the recent false rumours surrounding its liquidity.To counteract the rumours and bolster confidence in the lending giant, a raft […]

Loanoptions appointment has appointed Ray Ronan as a consultant to develop its relationships with the broker market.


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