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Sales surge for TMB

The Mortgage Business has revealed a dramatic increase in business in the 14 months since it lost its entire senior management team.

It has seen applications rise by 90 per cent in the year to October compared with the previous 12 months and the value of those applications has rocketed from 2.5bn to 4.5bn.

Completions have jumped from 10,184 to 18,958, with the value of completions rising by 80 per cent to 3.1bn.

Managing director Nigel Payne says: “It has been a year of tremendous achievement.”

But experts have warned that the figures should not be taken at face value because TMB is comparing a recent per-iod of calm with a period of turmoil for the company.

Packager group Ramp’s managing director John Rice says: “TMB’s numbers may be factually correct but they need some context.”

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