We’re into the second quarter of 2018 now and facing deep trouble in the face of Brexit, if you listen to some commentators; or just on the verge of a glorious breakthrough if you listen to others.
Two things that are for sure: we do live in interesting times and the mortgage market is experiencing highs and lows in a turbulent year.
The year started off okay in terms of business completed in the UK, based on independent mortgage broker forums but it stalled during the terrible weather in the early spring before picking up a little again.
Business seemed to have almost stopped for the world cup and things seem to have settled down again now, although property sales still haven’t really picked up and it seems a lot of the business is remortgages and capital raising.
However, the great news is that the overall total number of appointed representatives among networks we use in our research has passed the 5,000 mark for the first time since 2015.
On to the table now, which comes with the constant caveat that it does not include all networks but most, as have been used over the last 10 years since the review began as a good indicator of the state of the industry based on information read from the FCA register.
The information contained in the table alone should not be used for network choice, although it’s fair to say a network that exhibits a tendency to steadily lose AR’s over a prolonged period of time must raise questions.
Equally, where a network shows a sudden large increase in AR numbers, this can be due to an acquisition or a vigorous marketing campaign.
Illustrating recruitment trends over a longer period of time is where the table’s strength lies.
Looking at the successful networks in this quarter it can be seen that numerically Tenet have the biggest increase in AR number, while by percentage that honour goes to The Right Mortgage Network, who are also second in numerical terms.
Following on from these two numerically we have Stonebridge closely followed by MAB.
At the other end of the table, in both numerical and percentile terms Mortgage Support Network exhibited the biggest losses with Online Partnership being the only other network in the table to show an overall reduction in AR numbers.
|Network Performance Figures For The 2nd Qtr 2018|
|Network Name||Total 1st Qtr 2018||Total 2nd Qtr 2018||Difference||% Change|
|Stonebridge Mortgage Solutions||270||280||10||3.70|
|Mortgage Intelligence and Next||181||184||3||1.66|
|Mortgage Advice Bureau||172||180||8||4.65|
|The Right Mortgage||175||187||12||6.86|
|Mortgage Support Network||85||81||-4||-4.71|
*Figures correct as of 6 July 2018