View more on these topics

Openwork eyes £10bn lending in 2016

Home-House-Money-Property-700x450.jpg

Openwork is targeting £10bn of mortgage lending in 2016 after its lending rose 23 per cent to £9.1bn in 2015.

The network says it will meet its target through organic growth and through business coming from Just Mortgages, which is joining the network from L&G next month.

Just Mortgages, the financial advisory business of Spicerhaart, will become Openwork’s largest mortgage-focused AR firm with 130 advisers.

The firm currently serves Spicerhaart clients across estate agencies including haart, Darlows, Felicity J Lord, Haybrook and Chewton Rose.

Openwork mortgage and protection proposition director Paul Shearman says: “2015 was a fantastic year for mortgage lending at Openwork and our best annual performance since the crash.

“To have exceeded £9bn of lending – a substantial year-on-year uplift – is a significant achievement and testament to both our advisers and the quality of our market-leading proposition.”

Recommended

Zurich-building-2012-700.jpg
1

Openwork left ‘vulnerable’ as Zurich plots stake sale

Advice network Openwork has been left “vulnerable” after Zurich confirmed plans to sell-off its remaining 25 per cent stake in the business, experts say. Openwork is 67.5 per cent owned by member firms and 7.5 per cent by an Openwork employees trust, with the remainder held by Zurich, and now set to be divested to […]

Zurich-building-2012-700.jpg

Zurich to sell 25% Openwork stake

Zurich will sell its 25 per cent stake in advice network Openwork in the next four years. In July last year, Mortgage Strategy’s sister title, Money Marketing, revealed Zurich had appointed investment banking advisory firm Evercore to explore exit opportunities as senior management look to rid the company of any liability risk associated with the […]

John-Cupis-700.jpg
1

Sesame’s John Cupis named Openwork mortgage director

Sesame mortgages managing director John Cupis is to join Openwork as mortgage director. Sesame announced earlier today that Cupis would be leaving as part of a management shake-up. The appointment completes Openwork’s new management team after it restructured the business into three business units – wealth, mortgage and protection – with a director for each. […]

Zurich-building-2012-700.jpg

Zurich eyes Openwork stake sale

Zurich is considering selling its 25 per cent stake in advice network Openwork, Mortgage Strategy’s sister title Money Marketing reports. The insurer has appointed investment banking advisory firm Evercore to explore exit opportunities as senior management look to rid the company of any liability risk associated with the business. Sources say the move has been […]