Mortgage News
Openwork grows mortgage completions to £19bn
The Openwork Partnership grew mortgage completions by three per cent to £19bn in 2020, on top of a rise of 30 per cent the previous year.
The housing market pause in April and May 2020 was offset by a strong performance in the final three months of the year, it said.
“Our ability to continue to recruit new advisers last year, and focus on services for advisers and their clients, ensured that once the housing market was allowed to open we were ideally positioned to meet the pent-up demand,” said John Cupis, managing director for mortgages and protection at The Openwork Partnership (pictured).
“Our new adviser recruitment pipeline into 2021 remains very strong and, coupled with the stamp duty benefit extension, we are looking forward to another good year,” he said.
The anticipated government mortgage guarantee scheme and continued Stamp Duty holiday “should maintain confidence in the housing market,” the network added.
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The firm rebranded from Openwork to The Openwork Partnership in February 2020, signalling plans to further expand the network, and to extend its distribution and range of propositions.
The network currently comprises 680 firms and 4,200 advisers.