Pink lending and AR numbers boom

Pink Home Loans has revealed a 57% increase in lending to £5.5bn in 2006, while profits reached £1.3m.

During 2006, the network also saw a 137% increase in its number of app-ointed representatives compared with figures at the end of 2005.

The sharp rise in the number of ARs comes after Pink revealed it was to start a massive recruitment drive this month.

Lisa Hurley, associate director of finance at Pink, says: “2005 was a difficult year for the industry in the immediate aftermath of M-Day.

“Pink took the opportunity to invest heavily in compliance and ensure that it had a robust and sustainable structure for its network.”

She adds: “The big increase in ARs is nothing to do with the business branching out. We are not interested in dipping our toes into anything new right now.”