One of the fastest growing mortgage brokerages in the UK has today announced another set of outstanding results. Its accountants Basra & Basra confirmed that in such a difficult market it was not totally surprised by the results due to the depth and experience of its management team.
Result Highlights:
Gross Mortgages up 38%
Turnover up 78%
The operational costs remained broadly flat for 2011, and therefore the company delivered profits ahead of expectations.
Satvinder Singh the companies Managing Director stated ?we are pleased with today?s results however; we have a long way to go if we are to achieve our vision.?
When questioned further, ?what do you put the growth down to?? He stated ?unlike many brokers we are not a general broker but specialise in contractor mortgages and work with a large number of the freelancing community. Whilst many lenders have lost the appetite to lend we continue to look to influence lenders and encourage them to assess risk in a more logical fashion. Had we sat back and rested on our laurels I?m of the opinion the freelancing community could have been left with very few lending options during this credit crunch.?
Ian Burrows the companies Marketing Director added ?We are very proud of the fact that we are pioneers in this arena and have fought extremely hard with lenders behind the scenes to ensure mortgages for contractors still exist. We are currently working on a contractor mortgage product with a small regional lender but will look to make this product available nationally, watch this space.?
In terms of future plans the company has stated it will look at an acquisition strategy as well as organic growth. It is heavily investing in its IT structures with the aim of making it easier for clients to transact business and ensure clients receive a high quality service, which to date has set the company aside from its competitors.
Having watched this company achieve solid growth since its inception, mainly due to its forward thinking, it brings some good news in a sector which is still very downbeat.
Article by: Christine Baker, Freelance, Financial Journalist
Media Contact: Raman Kaur, Public Relations Manager.
Tel: 0844 44 88 800
Email: media(at)contractormortgagesuk(dot)com
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