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The Right Mortgage and Protection Network mortgage completions, lending and AR numbers grow

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  • 10/10/2023
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The Right Mortgage and Protection Network mortgage completions, lending and AR numbers grow
The Right Mortgage and Protection Network has increased its appointed representative (AR) network along with its mortgage completions and total lending so far this year.

In the year to date, mortgage completions have risen by eight per cent compared to the same period last year to 24,010 and total lending volumes have gone up by four per cent on the previous year to £4.5bn

The network also has 350 AR firms, with 26 businesses joining so far this year and the number of advisers joining the network reaching 127.

This brings the total number of advisers to around 728.

The network continued that it would focus on helping firms widen their product and services proposition, especially in areas beyond mortgages such as protection, private medical insurance, general insurance and later life lending.

The firm noted that “ancillary sales opportunities” were already starting to tick up, with private medical insurance annual premium income above £23m in the year to date, which is an increase of 45 per cent on the same period in 2022.

It added that income protection sales had doubled year-on-year.

The figures were announced at its National Training Event in Birmingham earlier this month.

 

‘Focusing on options away from central mortgage advice’

Nicola Ventrella, operations director at The Right Mortgage, said it was pleased to be able to announce “continued growth in both our AR firm numbers and the number of advisers within the network, as this ensures we can continue to offer the widest range of product options and services to these businesses, and to provide even greater levels of support so they can meet their ambitions”.

She continued: “There’s no doubting 2023 has presented a number of significant challenges for advisers, particularly from a mortgage point of view, so we felt it was important to focus on the ways and means by which firms could ride out these current market conditions, while making the most of the business that is available, and ensuring they have as many strings to their service bow as possible.

“This is why we focused significantly on the options and opportunities available to firms away from the central mortgage advice one, and as a network, we believe it is vitally important that our AR firms and advisers have access to whatever they need in product areas such as protection or PMI or general insurance or equity release.”

Ventrella said that the network had grown its offering in those areas and wanted to ensure firms have a “strong strategy in place to cover off as many product needs and solutions for clients as possible”.

She added: “Overall, we were very pleased with the event itself, and the engagement from our AR firms. We appreciate the time they have taken out of their working week to join us and we hope they were able to pick up plenty of useful help, support, tips and information to continue to develop their overall business propositions and to grow their income levels.”

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