Just Mortgages is expanding its self-employed division, setting a new target to have 150 brokers by the end of 2017.
The division was launched four months ago to cater for brokers who would prefer to be self-employed and run their own businesses rather than being employed.
It is on target to have hit year-end headcount by September and the firm expects to have more than doubled the planned number of 50 broker recruits by the end of the year.
Just Mortgages, the financial advisory business of estate agency group Spicerhaart, joined Openwork from Legal & General at the end of March and is already the largest appointed representative in the network.
In order to help manage its burgeoning number of self-employed brokers, the firm has brought forward plans to appoint a sales director, appointing Countrywide’s executive regional sales manager Rob Perrin in the role.
He will work with brokers to help them to identify both lead sources and introducers.
Carl Parker, head of the self-employed division, worked with Mr Perrin at Countrywide and praised his experience, knowledge and passion for his people.
“Due to our current success in recruitment, I have brought Rob in a few months earlier than planned, and I have no doubt that he will be instrumental in helping us drive our results and headcount even higher.”
Mr Perrin said he recognised that becoming self employed is a natural next step for many employed brokers.
“The opportunity for a broker to run their own mortgage and protection business, whilst at the same time receiving full support and guidance, is extremely exciting for both parties,” he added.
Just Mortgages stated it anticipates bringing on board another experienced sales director by the beginning of October, enabling it to increase both volumes and headcount in readiness for 2017.
The firm offers a no monthly fees structure, which has contributed to the rapid growth in broker numbers across the division.
Profit rose 17 per cent over last year, on an increased turnover of 6 per cent, according to its results to the end of December. They also revealed £1bn of mortgage lending was carried out last year alone, while life sales increased by 9.2 per cent.
Overall, Just Mortgages increased the number of brokers in the firm by almost a third, from 85 at the end of 2014 to 120 by December 2015. This number increased again to 138 in the first two months of 2016.
peter.walker@ft.com
