There has been a steady increase in the growth of application figures over the course of this year, with volumes increasing from £92 million per month in January to over £250 million per month for September 2005 and for the month prior to this. The run rate for October is looking to continue this trend. This growth figure is based only on its packaged business only, but its mortgage club business has also seen a massive surge.
At this stage of 2005 the Group has seen a 200 per cent growth in volume of business from the annual 2004 figures for both packaged and mortgage club business and we still have three months left of the year to run. This reflects the Groups substantial distribution channel, of which the majority is built upon the Mortgage Times Group’s own brokers rather than its panel business.
The Mortgage Times Group is also a top provider for the majority of lenders on its packaged panel. It has seen a healthy expansion in its Appointed Representative pipeline off the back of its recent series of National Roadshows, which are still continuing into December. This pipeline of new Appointed Representatives will come to fruition by the end of the year and we will look forward to releasing our increased numbers, which are expected to be in excess of 200 firms, at that time.
Christopher May, director of The Mortgage Times Group, commented: "This is fantastic news for the Group. I am particularly proud as we have managed to combine our aggressive sales and marketing strategy with a second to none service proposition which is reflected in our business levels. We are already competing in terms of volume with some of the well known specialist lenders in the market and have embarked on a number of projects working with lenders and smaller packagers to ensure this growth is sustained over the next year."
May continued: "We are now in a regulated environment where many experts had predicted shortfalls in the packaging market. Our proven distribution channel has enabled us to work with our partners to ensure that sustained growth can and is being sustained."
