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Mortgage packager announces 45 per cent growth

Mortgage Next announces it has facilitated almost £1.2bn in lending in the financial year ending in March.

The four-year-old packager says these figures represent almost a 45 per cent increase on the previous year&#39s results.

The company processed 19,000 mortgage applications last year, divided roughly half between the main and sub-prime sectors. The average loan size was £60,000.

Mortgage Next deals exclusively with IFAs and institutions. It does not directly sell products to the public. It offers more than 500 products to intermediaries, all of which can be applied for via one generic application form.

Managing director Martin Maynard says: “To have achieved £1.2bn billion of annual lending since our formation four years ago is remarkable. With the ongoing support of our 5000-strong IFA customer base, we&#39re well on target to reach our £2bn lending target in 2001.”


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