Derby-based mortgage firm Finance Advice Centre has set out plans for an ambitious period of growth during 2021 after partnering with an online platform that specialises in finding deals for people turned down by High Street lenders.
The company says it has pressed the button on a new recruitment campaign in all areas of the business but is especially looking for experienced mortgage advisors and franchise owners after it signed a deal with the new and upcoming specialist mortgage platform Haysto.
The larger Finance Advice Group network has over 100 mortgage advisers and operates seven of its Finance Advice Centre offices mainly across the East Midlands, but is now expanding nationally after having been set up by former professional cricketer Matt Cassar in 2014.
It has made its name in the marketplace for finding mortgage deals for borrowers who traditionally struggle with high street lenders, because either they have poor credit histories or are self-employed.
Its caseload in this specialist area of the market had already increased considerably during the Covid-19 lockdown, but Mr Cassar said that its partnership with Brighton-based Haysto is a significant step forward.
Co-founded last year by Paul Coss – himself a former Finance Advice Centre adviser – Haysto has set its sights on serving the 50% of buyers who have previously been turned down for mortgages because they were considered too high risk.
The arrangement will see Haysto match its customers’ inquiries with the specialist advisers based at Finance Advice Centre’s Derby head office, as well as its other branches in Ilkeston, Castle Donington, Nottingham, Lichfield, Leicester and Bristol.
Mr Cassar said: “Being asked to work in partnership with Haysto is a fantastic opportunity for us. Their platform is very impressive, and their customer journey is extremely straightforward, while they share many of the same goals that we do.
“There is a huge amount of business that high street banks are refusing to pick up simply because they are not willing to take the risk by offering their products to applicants whose credit history or current situation is less than perfect.
“We’re happy to take on that business and are proud to have been able to help thousands of people who thought their dreams of owning their own home were over.
“We know in the current climate that there are very many more people in the same situation, and we look forward to working with Haysto to get them onto the property ladder too.
“In order to scale with the new Haysto partnership, where we are forecasting that we will need to double our advisor and franchise owner numbers in 2021, we are investing heavily in our IT infrastructure and looking at taking on twice as much office space.”
Mr Coss from Haysto added: “Self-employment and poor credit histories are on the rise in the UK. Thanks to Covid, more people have struggled with credit issues and don’t fit the traditional mortgage applicant mould. Many are being rejected by traditional lenders and online mortgage brokers.
“We’ve partnered with Finance Advice Centre because there’s a growing need for specialist advice and access to specialist lenders. Together, we want to empower more people to realise their dream of homeownership, regardless of their situation.”
For more information on Finance Advice Centre visit www.financeadvicecentre.co.uk/join-the-team