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London broker firm Sammon launches

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  • 24/05/2010
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Sammon Mortgage Management, a new mortgage brokerage has launched to service clients in central and Greater London.

Founded by Vince Sammon, who formally left John Charcol two weeks ago after gaining FSA direct authorised status for the firm, Sammon Mortgage Management offers whole of market mortgage & protection advice.

The firm has launched with five brokers and set to aggressively recruit, expecting to have 15 by this time next year. The firm has offices outside London in Upminster and said it plans to keep operations streamlined so decisions can be made quickly making it more reactive than its competitors.

The firm said starting a new venture after such a turbulent time in the financial industry could be considered high risk, however managing director, Vince Sammon said the timing is ideal and the outlook for brokers is bright.

Although criteria remains strict, particularly for those clients with little equity or a small deposit, 2010 has seen increased mortgage activity, availability of higher LTVs and also slightly lower rates, all signs of an improving market.

Salmon said: “More & more lenders are coming back into the market which means better terms for clients as competition increases, this also provides brokers with a greater range of options for their clients. Brokers continue to contribute a huge percentage of overall lending and in a market where criteria is tight, mortgage brokers are relied upon more than ever to find not just the best rate but also the right lender.”

 

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