Mortgage Network Performance for 4th Qtr 2018gary
So that’s 2018 over now and what an interesting but scary year it was! My next article will cover the network recruitment results for the whole year, but first we have recruitment performance for the last quarter of the year, a period which included one of the most lacklustre budgets since………….Well, since the last budget. It appears that the government see the mortgage industry in general and the buy to let sector in particular as a many headed golden goose which will continue to lay golden eggs regardless of the number of time you cut one of it’s heads off, with the opposition bleating “fat cat landlords” to the people they purport to represent who have to suffer from stagnated, in fact dwindling numbers of landlords providing reasonably priced rental housing. This situation is of course is a double whammy since it also pushes the retired who were using rental property as a pension plan out of the sector into the hands of pension providers, with some providers paying out peanuts in terms of fund performance while still collecting very acceptable management fees. I’m sure all of this is completely ethical and legal of course but would forgive anyone who thinks it helps to have friends in high places!
However, putting my mini rant aside now and getting on with the show. As always, the data is supplied by the FCA from their register and although deadly accurate on the day, there may now be some small variations due to retrospective changes, and of course don’t use these figures as the sole basis for network selection. Put your business head on and use an independent mortgage network consultancy such as Which Network Ltd.
Looking at the table now, it can be seen that numerically, The Right Mortgage have had a very productive quarter with 15 additional AR firms added to their network. In second place with 13 additional AR firms we have First Complete proving their worth to LSL and in third place we have Online Partnership picking up their game with 8 new AR firms added to their AR total.
At the other end of the table Pink, another acquisition of LSL along with Mortgage Next/Intelligence have both had a disappointing quarter with a reduction of 3 in their total AR numbers. In second place and the only other network to show a downturn in AR numbers we have Sesame, who in all fairness have shown an increase in their AR number for the previous two quarters in their fightback to form.