The biggest UK AR mortgage network Sesame and DA club PMS reported its market share also increased to 13.8% of the total UK mortgage market, which is a rise of 0.5% since 2010.
John Cupis, managing director, PMS said despite the challenges, both PMS and Sesame have outperformed the market again after “significant investment” in protection, valuations and legal partnerships for its advisers.
“In the face of a tough mortgage market, adviser productivity increased by an average of 20% last year, demonstrating members are rising to the challenge and seizing new opportunities,” he said.
John Malone, chairman of PMS said the hardest thing the group has had to do this year is convimnce its brokers the mortgage market is still there.
“Last year, we have needed to give the intermediaries the confidence to do what they used to do years ago – go out and broke the mortgage,” said Malone.
George Higginson, CEO of Sesame Bankhall Group, said the group’s scale and financial strength played a part in opening up new options for its advisers.
“With further exciting developments planned for 2012 in areas such as protection, general insurance and adviser technology, we are determined to deliver even greater value to our customers and help their businesses to prosper for many years to come.”
However, Sesame Bankhall Group (SBG) generated zero operating profits in the first six months of 2011 as the company invested in technology and the RDR transition.
Despite profitable trading, the group made “significant” investments in technology, new customer services and in a number of “implementation activities” ahead of RDR, according to the first-half results for parent company Resolution earlier this year.
In the corresponding period last year, the IFA and mortgage distribution arm SBG, posted operating profits of £2m.
