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Specific broker service for high net worth property loans to be launched

It is developing a specific online service to cater for the growing number of referrals it receives from other finance professionals. It also is increasing the average loan size of the deals it places and increasing the level of business per adviser.

Other plans for 2012 include developing its educational and resource support structures for those advisers and wealth managers looking to place large mortgage loans and launching a number of subsidiary arms that cater for different product sectors.

In 2011 Enness’ average loan size was £1.518 million, up from £1.076 million in the previous year. Enness said it is looking to increase this level and develop the amount of business written by each individual adviser over the course of 2012. In 2011 each Enness adviser completed, on average, £36.3 million of business.

Enness has also pledged to engage fully with the recently published Mortgage Market Review (MMR) consultation proposals principally those relating to high net worth borrowers. Enness recently came out in broad support of the Financial Services Authority’s stance to operate a more tailored approach to the high net worth market.

‘Last year was a particularly strong year for Enness Private Clients. However,  there is much to focus on and achieve in 2012. We are absolutely dedicated to the large mortgage and high net worth sector and our relationships and expertise allow us to access funding that is simply not available to the vast majority of advisers who may come across such cases,’ said Hugh Wade-Jones, director of Enness Private Clients.

‘This is why we will be broadening our service to help brokers, advisers and wealth managers who may be having difficulty finding the right type of lender or funder for existing clients. We also have some significant targets for the business in terms of loan size and business levels, which will be helped by a number of new appointments to be announced over the coming months. Our current sales and referral systems are also under review and we will also be looking to grow our current lender, network and club relationships,’ he explained.

‘We also fully acknowledge the need to engage and support the FSA’s high net worth proposals as outlined in the MMR paper. This is a significant moment for the high net worth sector and, with the FSA broadly on the right track, we believe it is important to maintain the momentum and see the proposals through to final fruition.

‘Our core aim is to be the premier large mortgage broker in the marketplace and we believe we set ourselves apart from our competitors because of our understanding of the high net worth market, in particular the more complex tax and purchasing structures such borrowers are buying through. We are experts in our field and can fully complement the service already offered to clients by advisers,’ he added.