Sesame Bankhall Group (SBG) has announced the combined mortgage completions in 2019 through its PMS Mortgage Club and Sesame Network were the highest for more than a decade.

The group reported that PMS and Sesame mortgage completions rose by £2.5bn during 2019 to £44.4bn – up from the £41.9bn recorded in 2018 – reflecting a 6% yearly increase.

As part of SBG – a leading support services business for firms that are directly regulated by the FCA – PMS operates one of the UK’s largest mortgage clubs for directly FCA regulated advisers, while Sesame is one of the largest appointed representative (AR) networks in the country.

Commenting on the group’s performance, SBG executive chairman, John Cowan, called 2019 “another outstanding year for PMS and Sesame”.

“It was our best mortgage performance for more than a decade and represents a 12% market share across all channels,” he added.

“Quality advice continues to dominate the UK mortgage market and we have worked hard to maintain our strong position. In challenging market conditions, we’ve helped advisers to seize the opportunities to thrive and grow.

“PMS and Sesame have been very active in expanding their breadth of propositions to give mortgage advisers more choice, and the ability to cater for a wider range of customer needs. This includes bolstering support in specialist and later life lending, new build and product transfers.

Commenting on the year ahead, Cowan added: “Activity levels so far this year have been high. However, we must remain vigilant given the uncharted territory we are now in.

“To combat the economic uncertainty and regulatory challenges ahead we’re helping advisory firms to expand their propositions and engage customers, because all the evidence tells us that people want and value advice.”

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