Just Mortgages outperforms market to deliver robust results
Just Mortgages, one of the UK’s largest mortgage brokers, has revealed robust results for 2023, with brokers across both its divisions outperforming the market.
Against a backdrop of higher interest rates and fierce affordability challenges, both employed and self-employed brokers still wrote more than 30,000 mortgage applications. This is in spite of the fact that the market itself was down 28%. Even so, gross mortgage lending remained consistently high with the previous year, surpassing £4bn.
Meanwhile, average case sizes rose across the board at Just Mortgages, with protection sales increasing three percent in 2023 – despite the overall protection market shrinking by 10% in 2023.
The self-employed division continued to increase its headcount and reach closer to its next milestone of 500 advisers, despite clear recruitment challenges in a flat market. In total, Just Mortgages has more than 650 advisers across its national network.
The results were revealed at Just Mortgages’ recent Lender Fayre in Birmingham, which brought together 45 lenders and providers across mainstream and specialist lending, conveyancing and protection. The two-day event was attended by more than 400 brokers across its employed and self-employed divisions.
It was headlined by the official launch of Smartr365, which Just Mortgages will adopt for its back-office and CRM systems. The move is designed to streamline operations by digitising and automating key processes, improving the client journey and helping Just Mortgages to save as much as 60,000 hours every year.
Ben Allkins, head of mortgages and protection at Just Mortgages, said: “Advisers at Just Mortgages continue to show incredible resilience, posting tremendous results in what is a complex and challenging market. These challenges are amplified in the self-employed world, yet advisers are still exploring the proposition offered by Just Mortgages, which enables them to launch their own business with full support.
“As we approach the 500 adviser milestone, we continue to improve that proposition and increase the infrastructure around advisers. There’s no doubt the business management tools of Smartr365 will play a major role in this, along with our experienced area directors, digital media expertise and training to help advisers win new business, recruit new brokers and ultimately grow.”
John Phillips, CEO of Spicerhaart and Just Mortgages, added: “It’s hugely encouraging to see that our advisers in both employed and SE have not let the market define them. Instead they have put all the tools and training to good use to not only remain active in the market, but deliver a better and broader service to clients. Difficult markets help distinguish exceptional brokers from the average and it’s terrific to see both divisions truly rise up to the challenge and deliver exceptional results.
“Following a busy start to 2024, we are very optimistic for the rest of the year. Buyer confidence is certainly returning and advisers are doing all they can to help nurture this. Our recent Lender Fayre was a fantastic example, with more 400 advisers in attendance actively engaging with lenders and providers to increase their knowledge and better understand all the options out there to support a broad range of borrowers.”
