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Buoyant Savills widening reach

Savills Private Finance has seen profits jump by 16 per cent from £4.4m in 2006 to £5.1m last year.

The broker says revenue rose by 11 per cent from £26.9m to £29.8m as it benefited from a strong mortgage market. Margins improved slightly from 16 per cent to 17 per cent.

SPF managing director Mark Harris says: “These are strong results, given the tightening of liquidity in the UK market and the significant investment in improving systems and additional regulatory costs.

“We continue to expand our traditional mortgage broking business geographically and now operate from 25 locations, including new offices in Cardiff, Jersey and Windsor. So far in 2008, we have also added Exeter, Newcastle and Liverpool.”

Harris says the commercial and agricultural debt broking business performed strongly in more difficult market conditions, where the need for independent advice has become more important.

He says: “The outstanding quality of our people and our continuing investment in developing our infrastructure will serve us well in a market where borrowers will increasingly need advice from professional mortgage brokers.”


Broker Talkback

Was the Budget good for your clients?Yes 12.5%No 87.5% No “It wasn’t good, it wasn’t particularly bad, it was just bland.”Andrew Robb, Stewart Robb & Co No “I don’t think anyone, except perhaps for the very wealthy, will be any better off. It was a totally negative budget.”Michael Alexander, Michael J Alexander Ingatestone Associates No […]

FAS takes in six firms which are still trading

The Financial Assistance Scheme has admitted its first pension schemes from solvent employers.Around 4,000 people who lost savings when their pension schemes were wound up by solvent companies have become potentially eligible for financial help from the FAS following recent legislative changes.Previously, all pension schemes which became eligible for the FAS had been from companies […]

Bond pressure is putting bank business under threat

M&G corporate bond fund manager Richard Woolnough believes the business model of banks is under threat.Woolnough, who has been bearish on banks, says he will remain underweight on financials and warns that more writedowns are on the way. He says: “Banks rely on borrowing at one rate, lending at a higher rate and making a […]


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