Enterprise business volumes rise 600%

The Enterprise group says it has seen a 600% increase in group-wide business volumes this year compared with the same period three years ago.

Enterprise says it is on track to originate over 720m in sub-prime first charges compared with 120m in 2002.

Michael Clapper, CEO of Enterprise, says: “Under regulation, and as a result of the recent sub-prime reviews conducted by the FSA, the value of safe sub-prime has never been more obvious to introducers and networks. We expect this growth to continue for the next three years.”

Clapper says the development of tailored, branded arrangements with major networks has been the lynchpin for the firm’s growth.

He adds: “Zurich Advice Network and Openwork have both realised the value of safe sub-prime from one exclusive provider, Enterprise Homeloans.

“Now other significant networks have signed up for bespoke branded arrangements. We have created THINC Enterprise for Thinc Destini, Mint Homeloans for Mint Financial Services and Choice Homeloans for Home of Choice. And we are in talks with many others.”

The Enterprise group also includes Enterprise Broker Services as a sub-prime packager and Enterprise Finance, which provides second charges, bridging and sub-prime commercial mortgages.