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Do you expect to see less or more second charge mortgage lenders in 2018?

Lender secures FCA authorisation

The announcement comes amid a period of expansion for the West Yorkshire-based company, following the acquisition and relaunch of an online instalment loans provider earlier this year.

Paul Smith, chief executive officer of Morses Club (pictured above), said: “We are delighted to have received full FCA authorisation, marking a significant step in the development of the business.

“We will continue to focus on delivering good customer outcomes, using technology to maximise the customer experience.

“We strongly believe that listening to our customers and developing products to match their needs will help to continue to consolidate our strong position within the home-collected credit market.”

Morses Club recently reported that revenue for the year ended 25th February was up 10% on 2016 while its net loan book was now at £61.2m, 8% higher than the previous year.

Paul added that the enhancements it had made to its technology platform had significantly improved the effectiveness  and efficiency of its model. 

“We have made a strong start to the current year in terms of both credit issued and customer numbers.  

“A significant pipeline of territory builds is bringing with it high quality growth, and we continue to see attractive acquisition opportunities in the wider non-standard finance market."

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