Financial services company, Turnbulls Group, is to launch both commercial and residential mortgage brokerages, which will be franchised nationally.
The group has launched Evolution Commercial Finance and in the next few months will announce the advent of Mortgage Only Limited, a residential mortgage broker.
Rohan Courtney, chief executive of Turnbulls, said: ‘This is not an existing business expanding. These organisations are being set up to support large networks. We will quickly become one of the largest brokerages in the country.’
The new residential brokerage, Mortgage Only, will be established as a network of advisers with centralised funding and support, when it launches in early summer.
The business is currently at an early stage and will initially target high net worth individuals.
Sylvie Desmond, chief executive of Mortgage Only, said: ‘We will be building the business on our own terms and not taking over existing firms. To hit the ground running we will be looking for pre-qualified (FPC and CeMAP) regional managers. We will also be looking for CeMAP from brokers, but will also include further training.’
And James Rodea, business development director at Hampton International Mortgages, which started 15 months ago, said: ‘It helps they already have a brand image to link to and, as long as they have an active client bank that needs mortgages and servicing, they should do well.’
Evolution individually tailors commercial finance, including mortgages, leases and specialist property and trade finance, to small and medium sized businesses. It aims to have 50 franchises in place by the end of this year.