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Strong 2002 returns for Sun Bank

Specialist lender Sun Bank experienced year on year growth of 140% growth in 2002, to take its completed mortgage loans to over £600m.

Paul Howard, sales and development director, says: “The growth in business volumes at Sun Bank over the past 12 months has surpassed all our expectations.

“A combination of increased distribution, differentiated market leading products and a much more visible brand have been the main contributors to this success.”

Sun Bank&#39s new product range, which was launched in May, had a strong impact, with 84% of the year&#39s total applications received after this date. Three quarters of the year&#39s completions occurred in the last six months.

The new self-certification and buy-to-let products have been especially popular, accounting for 60% of business since May 2002. Complex prime business – mortgages designed for individual needs &#45 have also been particularly successful.

Sun Bank&#39s success and growth has prompted a move to Bournemouth – home of its parent, Portman Building Society – in order to support strong anticipated growth during 2003 and beyond.

Access to a greater number of processing staff and other specialist head office functions, will support increased business levels and help to improve service on an ongoing basis.

Paul Howard continues: “Service levels are a priority for us. We want to be sure we have the necessary resources and structures in place to provide the very best service for our intermediaries.”


7.8 million adults fail to qualify for mainstream credit

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Demand for commercial property expected to slow

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MCCB clarifies rules following challenge by IFA

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My mortgage week

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Improving health and wellbeing through pensions auto-enrolment

As the auto-enrolment revolution is rolled out to companies with between 50 and 249 people, employers will be grappling with the new rules and requirements. Even though introducing the new regime can be time consuming, many employers are regarding it as an opportunity to review their benefits packages, with employee health and wellbeing regarded as a popular addition.


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