Roger Hillier, product development manager at Mortgage Express says that when launching the product in October 2003, Mortgage Express anticipated a 10% intermediary market share by the end of 2004 and is delighted to have exceeded this by 20%.
“The overall lifetime mortgage market saw modest growth throughout 2004. The outlook for 2005 is very positive - we expect the market to benefit from recent FSA regulation, and in turn to grow by 30% to £1.5bn”, said Mr Hillier.
Dean Mirfin, Business Development Director, from Key Retirement Solutions said that the intermediary market growth of Mortgage Express lifetime products highlights the demand from clients for products with a more competitive edge.
“It is impressive that the Mortgage Express lifetime product has come from a standing point in October 2003 to be an intermediary market leader. Further enhancement to their sales support processes has been a driving force in making the lifetime product more attractive and successful.”
