The leading independent mortgage broker in Northern Ireland is heading south. The Mortgage Shop, which has 25 branches in the province, is planning a major push into the Republic.
The company’s 26th branch in Northern Ireland is set to open its doors on Belfast’s Shankill Road this Friday - and two more will follow in the province before the end of the year.
Its first outlet in the Republic is due to open early next year.
According to the Council of Mortgage Lenders, the company placed one in 10 mortgages in Northern Ireland in 2005, while first-half results for 2006 show this figure has risen to one in eight.
Now managing director and founder Siobhan McAleer, who operates the business on a franchise basis, wants to replicate this success in the Republic.
Former Nationwide Building Society executive Nick McCafferty is managing the development of the franchised brand in the south.
He said: “In Ireland, as with the rest of the world, the growth of franchising is running parallel to the growth of the service economy.
“The financial services sector in particular is ripe for a mortgage franchise, no other existing Irish broker operates a similar business model. The Mortgage Shop’s proven formula in Northern Ireland offers an exciting prospect for the Republic.
Marie Carty on January 7th, 2008 at 9:45 am
I have an auctioneering company in Athboy,Co Meath and want to set up an inhouse mortgage service,can you give me some advise about your company and the costs involved.