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Concordia sees 40% increase in mortgage business

Broker alliance Concordia processed £5.4bn mortgage business in the first half of 2007, up by 40 per cent on last year’s figure.

The alliance, which includes Alexander Hall, Chase de Vere Mortgage Management, Cobalt Capital, Hamptons International Mortgages and Savills Private Finance, believes it is on schedule to submit over £11bn in mortgage applications this year.

With the latest Council of Mortgage Lenders figures expected to show a slight slowdown in lending this week, Concordia continues to build on its share of the mortgage market.

Buy-to-let lending by the group was £1.35bn in the first half, representing 25 per cent of total lending.

Submitted lending from Concordia in 2007 has been split among 116 lenders, with 22 lenders on schedule to receive over £100m in mortgage applications this year.

Chairman Andy Pratt says: “This strong growth in 2007 lending demonstrates the strength of Concordia. Each of the five broker firms continues to grow organically, with over 330 advisers now providing independent mortgage advice.

“Our key lender partners recognise the quality of our business and have embraced working with Concordia to deliver better targeted product exclusives and improved servicing for our premier clients. We are very pleased with growth year on year.”


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