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.”