Openwork eyes £10bn mortgage target

Openwork eyes £10bn mortgage target

Openwork is on target to complete on £10bn of mortgages in 2016 from its 3,100 advisers with £8bn completed to the end of the third quarter.

The figure represents a compound annual growth rate of more than 25 per cent in each of the last three years.

The financial services partnership attributes the rise to its growing adviser base with 360 new advisers joining its network in 2016 and existing firms expanding their adviser numbers. 

Article continues after advert

Among the advisers joining the partnership have been Just Mortgages, the financial advisory business of Spicerhaart.

John Cupis, mortgage director for Openwork, who joined the business in February, said: “It is extremely gratifying that lending has been so strong this year, particularly as it represents a significant uplift on 2015.

"We have a very strong pipeline of new advisers planning to join Openwork which is testament to our stable and supportive environment for firms looking to serve more customers. 

Over the year Openwork has also added to its lender panel with Tesco Bank, Fleet Mortgages, Danske Bank, Kent Reliance and Hodge Lifetime all joining in 2016, and operates a panel of 29 lenders.