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PMS and Sesame mortgage completions up 20%

PMS and Sesame mortgage completions up 20%

Mortgage clubs PMS and Sesame have seen combined mortgage completions increase 20 per cent year-on-year in the first quarter of this year.

The adviser club and network combination arranged £9.6bn in mortgages in the first three months of 2018, representing a £1.6bn increase on the same period last year.

The business put this down to demand for remortgages and product transfers, with adviser members writing about 10,000 more mortgage cases in the period than they did this time last year.

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This followed strong results for 2017, when the firms' mortgage completions were up almost £3bn, to £37.5bn - their highest combined level since 2008.

Mark Graves, managing director of Sesame and PMS, said the figures were encouraging.

He said: "The role and importance of mortgage advice goes from strength to strength. 

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

"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."

Last November the firms rolled out a referral service to help advisers deal with buy-to-let (BTL) mortgage enquiries from portfolio landlords.

The service enables advisers to refer their clients to specialist partners 3mc and Mortgages for Business.

carmen.reichman@ft.com