Whole of market broker, The Mortgage Point, has announced it‘s looking to expand its UK team in preparation for increasing demand.
On May 10, the Bank of England’s Monetary Policy Committee voted to keep the base rate at the record low of 0.5 per cent, despite concerns over rising inflation and calls from some quarters for it to be increased immediately.
Gross mortgage lending was estimated to be £10.2bn in April, down 12 per cent on the previous month, but The Mortgage Point says as interest rates do start to increase, more people will start looking to remortgage. Those homeowners who have recently completed fixed-rate mortgage deals have remained with their current lender as variable rates have been so low. However, as the base rate begins to rise, more people will look to lock into a new fixed-rate deal.
In response, The Mortgage Point is looking to take on five new FPC or CeMAP qualified insurance consultants to help grow the business further and add to its already significant client base.
Stuart Codling, CEO of Salford-based The Mortgage Point , said: “We have been monitoring the situation closely over the last few months and believe now is the time to grow our team. As more people start to look for new fixed-rate deals to avoid rising variable rates, we expect the number of remortgages to increase significantly.
“We currently have a fantastic team across our offices and we hope with these new positions we’ll be able to grow the business and secure our position and reputation as a trusted whole of market mortgage broker that always goes that extra mile to find customers the best mortgage deals available.
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About The Mortgage Point Ltd:
The Mortgage Point is a whole of market broker with branches in Manchester, Leeds, Liverpool, Newcastle and Nottingham. The Salford-based company has over 25 years’ experience finding the best mortgage deals available from UK lenders and currently has access to over 3,000 different mortgage products. The Mortgage Point also acts as a broker for other financial products including life cover, sickness, accident and redundancy cover, income protection, buildings and contents insurance and secured loans.