Mortgage Network Recruitment Figures For The Third Quarter of 2019

Mortgage Network Recruitment Figures For The Third Quarter of 2019

So first of all, let me apologise for the delay in publishing this quarters figures, nevertheless they may be late but they’re here now.

As you can see, the table shows a modest growth of 38 (0.71%) in the basket of networks used for the compilation.  As always, I should point out that the information for Jul/Aug/Sept as presented in the FCA was correct on 10th October which is when the figures were compiled, however occasional retrospective changes may mean slight discrepancies now.  Of course the table should not be used as the only source of information when choosing a network since it’s great when used with previous figures for charting trends in both individual networks and the industry as a whole, but the statistics for the quarter only give a snapshot of this data, importantly not the reasons behind the changes.

Having got that out of the way, the big event of the quarter was the continuing assimilation of AR’s from Mortgage Support Network into HLPartnership. Who are now snapping at the heels of Stonebridge Mortgage Solutions in terms of table position.

With less than 40 MSN AR’s left to make the move or find another network at the end of this period, the transition could well be completed by the end of the year.

Moving on from HLPartnership who occupy the first place in this quarters table, in second place we have Personal Touch adding 19 additional AR’s to their network and in third place we have Stonebridge Mortgage Solutions with 12 additional AR’s.

Looking at the not so glamorous end of the table now, continuing with the yin and yang theme, Mortgage Support Network have lost 33 AR’s either transferred to HLPartnership, retired or moved on to other networks.  Second worst performance is credited to Sesame with an overall loss of 16 AR’s and in third place, but with an unarguably better performance than the previous two networks we have Julian Harris who ended the period with 5 less AR’s.

Overall, in a quarter which has seen Sainsbury’s joining Tesco’s in pulling out of the mortgage market and the collapse of Which Mortgage Adviser the mortgage broking arm of Which the consumer group charity (thankfully nothing whatsoever to do with Which Network) and property sales across the UK on the whole only increasing 2.2 percent, I think it’s fair to comment that the mortgage broker sector is doing relatively OK, certainly from the number of enquiries coming into Which Network from individuals wanting to get into the business it’s still seen as an attractive career.