Big rise in mortgage business for Connells

Monday 18th March 2013

The Connells Group says it is writing ‘substantially’ more mortgages so far this year.

It says it wrote 39% more mortgages in January, and then a further 38% more in February. It says its pipeline at the end of last month was 32% higher than a year ago.

The increases come after Connells announced a 17% growth in mortgage business last year.

The company says the increases seem to be a result of its gaining market share, rather than improvements in the market itself.  
 
Group mortgage services director Adrian Scott said: “The feedback from the market would suggest that the improvement we are enjoying in the Connells Group is significantly above the norm, which suggests we are now reaping the rewards of the investment we put into our mortgage services business last year.”
 
The Connells Group announced pre-tax profits of £36.2m for 2012, saying it was Britain’s most profitable estate agency group.