Ian Davison has launched Reflex Mortgage Solutions, based in Stockton on Tees, in an aim to take away the red tape which can limit the lending opportunities to investors and homebuyers.

 

Additionally, he hopes to create more than 40 jobs in the next 12 months ranging from administrators to team leaders for his Preston Farm-based call centre.

 

The company services the general consumer and increasingly popular buy-to-let market, as well as mortgage advisers and brokers.

 

“We wanted to make applying for a mortgage easier for customers in today’s competitive marketplace and to push the parameters in the industry and challenge processes,” said Mr Davison.

 

“We have reduced the amount of paper work involved in the claim process and reduced the procedure time by applying streamlining measures.  We have also barred brokers’ fees completely as they are unnecessary.”

 

Reflex Mortgage Solutions carried out research to uncover a mortgage snagging list.  Following this, an interactive website was created by Middlesbrough-based Calm Asylum, which allows users to apply on-line for advice documents, calculate their potential loan and repayment amount, as well as apply for a loan.

 

The whole process can be arranged with minimum administration and time.  Forms are signed and validated via a face-to-face meeting with either a Reflex Mortgage Solution representative or the customers’ mortgage adviser.

 

“Additionally, we aim to drive out a lot of the secrecy involved in the management of claims by introducing a comprehensive update system that utilizes mobile texts and email.  This way the customer remains informed every step of the way.”

 

Reflex Mortgages, within the first 12 months of trading, aims to process more than 600 mortgages, which will result in ₤90m revenue placed with lenders.

 

The company boasts exclusive availability to some of the best mortgages available and already has an established panel of the UK’s top lenders including HBOS.  

 

In addition to this, it has very strong links with a number of key estate agents in the Tees Valley.

 

Mr Davison personally has yearly mortgage repayments totaling over ₤360,000 for his portfolio of properties.  While he managed to acquire the loans that suited him he did become disheartened with the level of administration involved.

 

He believes that this, coupled with the length of time it can take to find the right mortgage can make or break the success of an application.  The result can often be heartbreaking for customers who miss out on their dream home or investment.

 

“While my circumstances are very specific and rather unusual, I have acquired a level of knowledge that enabled me to understand how the pitfalls can be avoided.  We aim to prevent them by offering a one-stop-shop for mortgages services, something bespoke to the growing Teesside marketplace.”

 

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For more information please visit www.reflexmortgages.co.uk or www.calmasylum.com