Mortgage Network Recruitment Performance For The 2nd Quarter of 2017gary
So here we are with the networks recruitment performance figures again, this time for the 2nd Quarter of 2017. It’s been a strange quarter in political terms with a disastrous snap election by the Conservatives compounding the uncertainty regarding the countries financial situation. Amazingly this doesn’t seem to have any adverse effect of Appointed Representative (AR) recruitment across the network community. In fact the opposite is the case with undoubted rises in mortgage interest rates around the corner following the steady increase in inflation figures over the last year seeming to become more aggressive over the past 6 months expected to drive more remortgages business as SVR’s gradually become less attractive. Probably as a result of this Which Network Ltd have noticed a marked increase in newcomers into the mortgage broking business with only 3 of the 15 networks featured in our table experiencing a reduction in AR number this quarter.
As always I should explain that although the figures were accurate on 1st July when they were taken, there can be occasional retrospective changes to the FCA register. Having said this any such changes are very unlikely to make much difference to overall trends which are much more useful than differences on any given date. It must also be emphasised that these figures alone should never be used to make a judgement on the suitability of a network as recruitment policies and marketing budget are both factors that can have some influence. Before any business takes such a major decision I would always recommend they take some independent, impartial advice on the subject.
On to the table now and in numerical as well as percentile terms The Right Mortgage lead the field with an increase of 19 AR firms over the quarter. In second place are Tenet with 10 additional AR’s or Mortgage Support Network using percentile terms and Stonebridge are in third place with 6 added AR’s.
As mentioned earlier, very unusually on the negative side of the table we only have 3 networks who have had an overall reduction in AR numbers. These are Sesame who have lost a further 19 AR’s followed by Intrinsic who have lost 4 AR’s although it must be said that with 1135 AR firms this only represents a reduction of 0.35% and finally Julian Harris who have lost 2 AR’s.
Generally speaking you would have to say business is on the up.