Mortgage Network Performance For The Second Quarter of 2019gary
So here we are, with half of 2019 already passed, “what happened there!!!” Anyhow if you can bear with me for the customary and possibly obvious warning. Although the information used for the table and this accompanying analysis were laser accurate at the time of compilation, retrospective changes may give rise to slight changes in individual entries. This doesn’t change the value of the tables however as an indicator of the flow of AR’s into and out of the basket of networks we use for the data. In fact if they are used in conjunction with previous tables it enables you to get a helpful insight into the popularity or otherwise of these networks over the last number years. Obviously individual changes in network AR numbers shouldn’t be used as an indication of whether a network is the best or worst for your business, since there are so many other factors involved in making the right choice.
The big anomalies in this month’s table revolve around HLPartnership’s consolidation of AR’s from the recently purchased Mortgage Support Network, into HLPartnership itself which has lead to many AR firms showing up with dual registration on the FCA register. Add this to the fact that all new recruits are automatically being placed with HLP, MSN not having any AR firms placed with them this year, brings us to the logical solution of removing MSN from the tables. We will of course be looking for another network to add in their place.
Looking at the table now HLPartnership have the biggest gains in AR numbers but as mentioned, these are mainly transfers from the recently purchased MSN who are now being consolidated into HLP. Numerically, second place goes to Stonebridge Mortgage Solutions with an increase of 11 AR’s and in joint third place we have Sesame and The Right Mortgage Network, each with 10 additional AR’s to their credit. Looking at the bottom of the table now, Quilter, formerly Intrinsic are down 54 AR’s but I suspect this may well be down to some restructuring connected to the name change. Second worst performance was Openwork, down 6 AR’s with Tenet and MSN showing a drop of one AR. (but remember that consolidation).
All in all, if we take out the big changes adversely at Quilter and positively at HLPartnership the quarter would overall still be negative, but with nothing like as dramatic a fall. All in all, I think you could say it’s been a fairly steady quarter, with everyone still holding their breath and waiting for the “B” word to finally happen………… or not?