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£2M profit boost for MI

Mortgage Intelligence has reported £2m profit and £12bn in mortgage lending through over 8,000 members in the year to July 31.

Managing director Sally Laker says that with much hype about the future of networks and speculation about those that may or may not fall by the wayside, it is good to be able to deliver some positive news.

This comes after MI’s parent company Close Brothers confirmed last week that it had suspended the operations of Close Mortgages.

Laker says: “By beating both profit and volume targets, the future looks exciting for Mortgage Intelligence, with ever more plans to develop the network while still maintaining the quality stamp that we set out to achieve.

“We are delighted we have delivered such great results while at the same time sticking to our original plans and making them a reality. We have worked hard to offer a quality packager on both the directly authorised and appointed representative propositions and will continue to build on that.

“But most importantly, our brokers will have the confidence that they are aligned to an organisation that is financially sound and will be around to help develop their busin-esses for the long term.”

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