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Mortgages Plc sees record trading in October

Specialist mortgage lender Mortgages Plc has set new records for the company, now in its fifth year of trading.

Mortgages Plc, owned by venture capitalist company Nikko, received more than £100m of mortgage applications and completed over £70m in mortgage loans in October.

Trevor Pothecary, group chief executive at Mortgages Plc, says: “The volumes of business we have achieved this year can only be described as exceptional. We have completed more applications in the first seven months of trading this financial year than we did in total in either of the last two financial years.

“We will be working very hard to maintain these recent levels of growth and areas such as correspondent and branding lending will continue to be developed.”


FSA to relax time bars for mortgage endowment complaints

The Financial Services Authority Board has approved proposals that will significantly reduce the risk that some endowment policyholders who were mis-sold policies might have missed the opportunity to complain because they did not realise they had a claim and failed to act in time. The Financial Ombudsman Service is not normally able to consider complaints […]

Crunch, not crash, is the danger now

Borrowing to invest, whether in shares or property, is never a one-way bet. I can clearly recall the house price recession of 1989 and the problems this caused borrowers and lenders. Some areas experienced house price falls of 40% and the industry took a long time to recover. Today, however, the market could not be […]

Sun Bank makes its move to the seaside

Sun Bank is to relocate from Stevenage to parent Portman&#39s head office in Bournemouth.As exclusively revealed in Mortgage Strategy, Portman acquired Sun Bank from Sun Life Financial Services of Canada in November 2001 for £95m.Sun Bank will continue to operate as a brand separate to Portman, with its own board, staff, products and marketing set-up.Sun […]

Optoma launches online trading platform

Processing company Optoma Broker Solutions expects to triple turnover with the launch of a fully compliant online application system.The system was developed in response to CP98 and refined for CP146 and is being marketed as a &#39compliance guaranteed&#39 system for brokers, offering a full audit trail for lenders.Brokers submit the completed application form to Optoma, […]


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