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Openwork’s mortgage completions soar 22% in value

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  • 15/06/2017
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Openwork’s mortgage completions soar 22% in value
Openwork mortgage advisers arranged £11.1bn of mortgage lending in 2016, up 22% from £9.1bn for 2015.

The network set itself a target of £10bn and comfortably broke that figure, with its 2016 total 85% higher than four years ago.

Openwork also added 454 advisers to its network, increasing numbers by 16% to more than 3,200.

Overall, pre-tax profits grew for the fifth consecutive year hitting £9.2m (up from £3.3m) while revenue increased to £283m, from £253m.

 

Targets met

CEO Mark Duckworth (pictured) said: “Our 2016 performance was very strong indeed, with results up and targets met across all channels and indicators.

“This is all the more pleasing considering that, as recently as 2011, Openwork posted a loss of £13.3m.

“This turnaround is testament to the strength and hard work of our senior management team, staff and growing network of advisers on behalf of consumers.”

He added that the business would continue its strategy into 2017 “with confidence”.

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