Mortgages  

Just Mortgages profits up 17%

Just Mortgages profits up 17%

Just Mortgages’ profit rose 17 per cent over last year, on an increased turnover of 6 per cent.

Results to the end of December 2015 revealed £1bn of mortgage lending was carried out last year alone, while life sales increased by 9.2 per cent.

Just Mortgages reinvested back into the business through a “significantly increased” head count and also by the launch of two new divisions, according to the statement.

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In September, Just Mortgages announced the launch of a new client servicing division, followed by a specialist new homes division in October.

Just Mortgages started the year with the launch of a London-specific office for high net-worth clients, followed by a will writing partnership, and latterly the appointment of Carl Parker to head up the newly formed division for brokers who prefer to be self-employed, but remain under the Just Mortgages banner.

In addition, John Phillips joined as group operations director of Spicer Haart, with strategic responsibility for Just Mortgages last June.

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 has increased again to 138 in the first two months of 2016, with plans to continue this expansion across the new homes division, the self-employed options, and the Spicer Haart estate agencies.

Finally, Just Mortgages became an appointed representative of Openwork, moving from Legal & General’s network on 21 March.

Antony Lark, managing director of Just Mortgages, said: “We have invested heavily in the business, but have still increased our profits by a significant 17 per cent.

“We have ambitious plans to continue our expansion and we are now positioned to take advantage of a fantastic year of opportunity.”

peter.walker@ft.com