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Product transfers drive PMS and Sesame mortgage business up 20%

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  • 03/05/2018
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Product transfers drive PMS and Sesame mortgage business up 20%
PMS Mortgage Club and Sesame Network have seen combined mortgage completions rise by 20% to £9.6bn in the first three months of 2018, up £1.6bn on the same period last year.

 

The firm revealed that its advisers completed around 10,000 more mortgages between January and March, with remortgaging and product transfers the main source of growth.

Speaking to Mortgage Solutions earlier this year, Sesame and PMS managing director Mark Graves (pictured) said he believed brokers could double their share of the product transfer market by the end of the year and maintain their majority share of the mortgage and remortgage market while doing so.

The business’ first quarter results appear to show that aim is being fulfilled.

 

Trend to continue

Commenting on these latest results, Graves said the increase was “very encouraging”.

“PMS and Sesame members wrote around 10,000 additional mortgage cases, compared to the same period last year, which is testament to the valuable service they are delivering to their customers,” he said.

“With the arrival of new business models such as robo-advice, it is really heartening to see the increasing demand for advice from professionals.”

Graves added: “Remortgages and product transfers are driving the majority of our growth, which is something we expect to see continue into the second quarter and ahead of any potential interest rate rises in 2018.”

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