Network Data Holdings is considering setting up a lending operation in the early part of next year.The parent company of Network Data, which floated on Aim last month, is looking at launching a dormant firm it owns, Homeowners Mortgages. HM was set up in November 2005. It is not clear where it would operate in the market but is likely to seek niche business. It will look at all funding options, including equity investment from other parties. A launch could mirror Close Brothers subsidiary network Mortgage Intelligence, which set up a lending arm this year. Network Data says in its Aim prospectus: “The directors are evaluating the benefits of launching HM as a mort-gage lender to develop a profit stream in the short-to medium-term as a long-term asset within the group. The earliest anticipated launch would be 2007.” London & Country head of communications David Hollingworth says: “I would have thought HM is likely to concentrate on one niche.”
Network Data has more than tripled profits for the first half of this year to £880,000 from £268,000 in the same period last year.
Multi-tie network Openwork has today announced it is broadening its product range to offer motor, pet, and travel insurance, through a deal with broker Endsleigh. The offering will go live on the October 18 and comes as Openwork says it is keen to extend its general insurance offering with the new products added following feedback […]
Network Data has more than tripled profits for the first half of this year to 880,000 from 268,000 in the same period last year.
Conservative conference: Paul McMillan reports from Bournemouth
Watch Rob Burnett, manager of the Neptune European Opportunities Fund, discuss the Greek bailout deal and its potential implications for European equities. In the video Rob discusses: Why, with the Greek crisis receding, markets can now focus on Europe’s strong fundamentals The resilience of European markets and why the recovery is on a solid footing […]
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