Mortgage upsurge boosts advice firm

Phil Anderson Financial Services (PAFS) has reported its busiest start to any year for arranging mortgages.

The independent financial advice firm said January was a recordbreaker for the month.

September and October 2020 were the busiest months for mortgage leads in PAFS’ 10-year history.

Its recent experience is very much in line with a UK-wide trend – according to the Intermediary Mortgage Lenders Association (Imla), mortgage lending will rise this year despite the ongoing Covid-19 pandemic disruption.

In its latest report, The New Normal, Imla predicted gross mortgage lending throughout the UK would rise to £283 billion this year.

In addition to the increase in its mortgage business, PAFS has continued to support an ever-widening customer base with their financial affairs across a range of service areas including investments, pensions, savings, mortgages and insurance, despite the restrictions and challenges of the past year.

Turnover for 2020 was £1.1 million – down slightly from 2019 but the firm is predicting the figure will increase by nearly onethird in 2021.

It is also planning a new office in Caithness and a move to larger headquarters in its home town of Ellon.

PAFS has operations in Ellon, Aberdeen, Inverurie, Westhill, Peterhead, Fraserburgh, Banff, Wick and Dundee.

Longest-serving staffer Rebecca Shiel has been with the firm 10 years and owns 5% of the business.

The whole team now numbers about a dozen members of staff, including several who have joined the business within the past few months.

Managing director Phil Anderson said: “We appreciate that the past year has been exceptionally difficult for people, both personally and professionally.

“However, as a business our ultimate goal is to help our clients to make the changes that will improve their lives, and that’s been more important than ever during this challenging period.

“Whether that means arranging mortgages as people’s lives evolve, advising on how to make the most of your pension or even opening an Isa (individual savings account) to save for a much-needed holiday when restrictions are lifted, we’re in a very privileged position to be able to help people to achieve their goals.

“We feel very grateful that so many people have come to us in the past year from all corners of the north-east and beyond.

“The expansion of the business in terms of our offices and also our staffing means that we can help even more people going forward.”

Mr Anderson, formerly a branch manager with Skipton Building Society, has been involved in financial services for more than 20 years and established PAFS – a Northern Star Business Awards “staff matter” title-winner – in 2010-11.

Besides arranging a record number of mortgages during recent months, he said his personal finance podcasts were also attracting considerably more attention as people turn to his professional expertise amid the pandemic.

IN DEMAND: Phil Anderson, managing director of Phil Anderson Financial Services, has reported a record-breaker.