Yes Group to corner unsecured loan market

South Wales-based Yes Group has surged to the top ranks of unsecured loans brokers in the UK with the acquisition of No Worries Loans.

The group now plans to corner 55% of the UK unsecured loans market in the next six months. No Worries Loans, a new company, and the group’s existing loans broker, Yes Loans, together now handle loan applications worth £15m a day, giving them a 35% share of the UK market in unsecured non-standard loans – more than any other operator.

No Worries Loans managing director Sally Hill becomes Yes Group managing director, with a raft of initiatives in place designed to drive this up to a 55% market share in the next six months.

She is also looking to increase revenues and profits of the other Yes Group businesses. These include telephone marketing company Dial, which Yes Loans successfully took over last year and saved 200 jobs in the process, and secured loans broker Blue Sky Personal Finance.

All of this, she says, will have a major impact on the creation of new jobs and on career opportunities for the 300 existing employees of the group.

Hill, who has a background in telecoms sales, launched Leeds-based No Worries Loans earlier this year after developing another successful business, Phones on Finance, which she still runs.

The deal brings with it the capacity of No Worries’ call centre operations in Leeds and India. Adding this to the existing capacity and expertise in Cwmbran, Sally says, means the opportunities the businesses will have to develop relationships with customers are significantly increased – and it’s this that will fuel the growth she plans.

She adds: “There’s huge potential with the combination of these two businesses to double profits and drive up daily loan applications to £23m.”

Source:http://www.mortgagestrategy.co.uk/