View more on these topics

Mortgage Options extends franchise package

Mortgage Options, the Independent mortgage broker, is extending its franchise package for brokers thinking of going it alone and setting up their own mortgage shop.

The mortgage shop franchise package provides brokers with the opportunity to have total day to day responsibility while benefiting from working within a proven business environment, with all the cost savings of a larger organisation including administration, compliance and accounts.

Mortgage Options provides the bulk of the set-up costs by way of agreed finance through a leading high street bank in the franchisees name and once suitable premises are located will brand them accordingly.

A full training course is provided although the franchisee must already have the required qualifications with suitable levels of practical experience.

The key benefit of the franchise package is that the franchisee can concentrate on writing business while Mortgage Options takes care of the other elements connected with running the business.

There is also a share option incentive plan exclusively available to those franchisees who are able to take up the package early and who deliver a specific level of business through a newly created mortgage shop.

Mortgage Options was established in 1995 and has 42 mortgage consultants working out of 95 locations from Hull to Kent, and already has franchised mortgage shop operations in Maldon Essex, Horncastle, Grantham, Gainsborough & Scunthorpe in Lincolnshire.

Martin Wade, director of Mortgage Options, says: “Our business model has been focussed on placing mortgage brokers directly into the offices of independent estate agencies as they have been an excellent introducer for business.

“Our aim is to continue growing that side of our business in wider geographical areas but in addition develop a chain of mortgage shops by way of franchising. This is an exciting opportunity for both ourselves and those individuals who fancy running their own mortgage business.”


Auto valuation systems as described by Eve are old news

From Graeme Winser I was surprised to see in Frank Eve’s recent article in Mortgage Strategy (October 1) the existence and functionality of an automated valuation system still being treated as news. Eve’s description of the Rightmove AVM with its three modes of quick, interactive and batch, is spookily similar to our own AVM at […]

Trump to sell mansion for 71m

Millionaire businessman Donald Trump’s Florida mansion has become the most expensive property in America. The star of TV’s The Apprentice is selling his 17-bedroom house for a massive 71m. Though Trump has spent a fortune renovating the property, he has never lived in it.

Clients may want to repay on schemes

You are probably aware by now of the recent product launches from Just Retirement and Prudential. But it is wise not to let the headlines distract us from considering the overall structures of the products.

Brokers say compliance costs are biggest threat

A whopping 62% of brokers this week say the cost of compliance is the biggest threat to their business. Just 38% of Mortgage Strategy Online readers polled say it is not, showing the toll mounting compliance costs are taking on mortgage firms. This week MS asks: “For the good of the industry, should Mortgage Express […]


News and expert analysis straight to your inbox

Sign up