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Pink has aspirations as number one network

Pink Home Loans says it aims to be the biggest pure mortgage network in the UK after almost doubling completions last year.

The network saw gross lending soar from 3bn in 2005 to 5.7bn last year. It made a 1.3m profit compared with a 1.06m loss in 2005, which was put down to the costs of regulation.

Pink says it is likely to make acquisitions this year to boost its appointed representative number. It was ranked the 10th-biggest overall mortgage network with 230 appointed reps in January although that list includes wider adviser networks, including Sesame top with 2,200 ARs.

Pink’s parent company Skipton Building Society saw profits rise by 62 per cent to 147.7m last year.

The network and club lost popular managing director Tony Jones in January, being replaced by Mutual One head Barry Meeks.

Pink executive team head David Copland says: “We have grown the AR network and that has meant a lot more business written. We want to be the biggest mortgage network in the UK. We are also looking at acquisitions and are talking to a number of people. I would be disappointed if there was no acquisition for Pink in 2007.”


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Cricket - thumbnail

England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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