The Right Mortgage & Protection Network has announced its business figures for 2023 at its National Training Event for member firms. The network achieved £6bn in total lending volume during the year and experienced record months in January and February 2024.
The network also saw significant improvements across various sectors, with GI API increasing by 35%, life API by 29%, and private medical insurance by 40% compared to the previous year.
Membership within the network grew, with the number of appointed representative (AR) firms rising from 316 in 2022 to 356 in 2023. This expansion included 40 new businesses and 161 advisers, bringing the total adviser headcount to 733 by year-end.
The network highlighted the growth of private medical insurance specialists to 83 and later life lending specialists to 104, identifying these as key growth areas.
The National Training Event, held on 7th March in Birmingham, focused on ‘Embracing Change’ and featured over 90 exhibitors. An evening dinner and awards ceremony celebrated top performing firms, advisers, lenders, and providers.
The Right Mortgage has confirmed the next National Training Event for 27th March 2025 at the Vox Conference venue in Birmingham. Additionally, the network announced a new partnership with Acre for a CRM system transition for all AR firms later in the year.
Martin Wilson, CEO of The Right Mortgage, commented on the achievements: “While 2023 as a whole was a challenging one within both the mortgage and protection sectors, I’m pleased to say that The Right Mortgage showed strong growth and development across a number of areas… It’s particularly gratifying to see strong growth in areas such as PMI and later life lending… Membership continues to grow, and we were very pleased to see so many of our firms represented at the National Training Event where we could highlight our successes, but also provide further information and information on how we can support firms and the wide variety of opportunities available to them… I’m pleased to say that 2024 has started strongly, but we are not complacent about this and will continue to work hard to give our members everything they need to be successful in this marketplace.”
