View more on these topics

Mortgageforce records best month for 4 years in November

Mortgageforce says it had its best month for over four years in November with over £40m in applications.

It’s over a year since the management team at the Derby-based firm completed the purchase of the brokerage from West Brom Building Society for an undisclosed fee.

Its next accounts are due to be filed on Companies House at the end of this month and its last results were filed some two years ago for the period up to March 2010 showed losses of £239,800 compared to a £7,784 profit in 2008/09.

Back then it saw a 19 per cent fall in total revenue, down from £3m in the previous year to £2.4m in 2009/10 and a 58 per cent fall in gross profit from £1.3m in 2009 to £540,689 in 2009/10.

It also reduced its number of management and administration staff from 27 to 15.

But the firm’s managing director Kevin Duffy, who joined the company over four years ago in June 2008, says it feels like the market has finally turned a corner.

He says: “We wont know for sure until Q2 next year but the omens are extremely promising.

“Most of the lenders in aggregate it looks like there might be an extra £10bn in the market next depending on what happens with the Government’s Funding for Lending Scheme.”


HSBC 480

HSBC launches 1.99% mortgage

HSBC is launching a direct-only two-year fixed rate of 1.99 per cent up to 60 per cent LTV.


Santander removes Highclere from broker panel for abusive language

Santander has removed Highclere Financial Services from the Abbey for Intermediaries broker panel with immediate effect, following accusations of him using abusive language towards its employees. The lender has written to Highclere partner Alan Lakey, who is also a council member on the Association of Professional Financial Advisers, to inform him of the decision on […]


Almost nine in 10 employers admit failings with post-DRA compliance

The default retirement age (DRA) was abolished more than three years ago, yet new research from Jelf Employee Benefits suggests that the vast majority of employers still have some way to go to fully understand, comply and communicate the landmark legislation change that prevents older employees being forcibly retired on the grounds of age alone.


News and expert analysis straight to your inbox

Sign up