Mortgage Brokerage & Client Bank For Sale | | Lincoln Lincolnshire | | Clients based Yorkshire & Lincolnshire, (few others UK wide). - 350 Active Clients, 100+ other clients - Annual Renewal Commission £2000-£3000(B&C + ASU) - Mortgage Book of approx. £39, 829, 271 - Huge Cross Selling Potential - £25, 000 Asking Price. Freehold to buy Mortgage Brokerage & Client Bank For Sale is located in Lincolnshire. | | ADVERT NUMBER : 43014
ADVERT IMPRESSIONS : 12,544 TIME(S) | | | | BUSINESS SECTOR: | Services | | TRADE TYPE: | Mortgage Brokers | | SALE: | Private Sale | FREEHOLD: | £25000 | | | | | BUSINESS DETAILS: | 31/12/2007 Turnover was £120, 865. 31/12/2008 Turnover was £85, 273. Business is located in Lincolnshire with the majority of the clients based in West Yorkshire. Our clients are all mortgage based, with some General Insurance (Buildings & Contents, Mortgage Payment Protection (ASU)), and Protection. This was office based but is now home based, therefore the clients could be serviced from anywhere in the UK. Our client bank is 95% Prime Mortgage Business and has been built up over the last 6 years. We have more clients on our files than the 350 listed, however the 350 are classed as active, i. E. We have had contact with them over the last 12-18 months. We continue to receive referrals from our client bank. We have many high net worth clients including solicitors, dentists, doctors, & directors. The potential from the client bank include:
- Continued advice & rebroking for mortgage rates as they expire over the next 1-3 years (all mortgage expiry dates are recorded & contacted 3 months prior to deal ending). - Continued advice & rebroking of both General & Life Insurance policies. - Cross selling of life insurance policies & general insurance policies to existing client bank (see current penetration levels below). - Cross selling of Pension Products (never been carried out)
- Cross selling of Investment Products (never been carried out)
- Cross selling of Wills / Trust Advice (never been carried out)
- Cross selling of Utility Services (never been carried out)
Our current existing penetration levels are:
350 Active Clients
53 Life Policies
47 Life & Critical Illness Policies
1 Standalone Critical Illness Policy
5 Income Protection Policies
11 Family Income Benefit Policies
30 Mortgage Payment Protection Policies
25 Buildings & Contents Policies
£733 per month (total) ASU Premium
£1439. 30 per month (total) B&C Premium
£9030. 00 per month (total) Life Policies Premium
£39, 829, 271 Mortgage Lending Book
ALL our client bank is stored electronically, there are no paper files, therefore transfer of the business and / or client bank is easy. The business has been valued previously by some business sales agents at 6 times what we are asking for, therefore we have decided to make this a private sale based on realistic figures for a quick and easy sale. ASKING PRICE: £25, 000 (based on multiple of renewal commission, goodwill & ongoing business opportunity). All client transfers would be carried out in accordance with FSA regulations. Business owner has now established a new, (non-financial services) business and wants to devote 100% of his time to this new venture. Call 07760 336340 with any questions. | | | | | | WITHDRAWN FROM MARKET - AWAITING DELETION | | | | | | | | | | | |
