Vince Sammon, a former consultant at John Charcol has launched a new mortgage brokerage, Sammon Mortgage Management.
Sammon Mortgage Management is directly authorised and offers whole of market mortgage and protection advice.
Sammon, managing director of the new brokerage says starting a new venture after such a turbulent time in the financial industry could be considered high risk, but he feels the timing is ideal and the outlook for brokers is bright.
He says although criteria remains strict, particularly for those clients with little equity or a small deposit, 2010 has seen increased mortgage activity, availability of higher LTV’s and also slightly lower rates, all signs of an improving market.
Vince, says: “More and more lenders are coming back into the market which means better terms for clients as competition increases, this also provides brokers with a greater range of options for their clients.
“Brokers continue to contribute a huge percentage of overall lending and in a market where criteria is tight, mortgage brokers are relied upon more than ever to find not just the best rate but also the right lender.”