Mortgage broker eyes expansion into guarantor market
The former partner of a large mortgage broker has turned his attention to the emerging guarantor loan industry.
Ray Bohringer, of Financial Media Group, moved into unsecured loans in 2010 after selling ICMG to Bear Stearns. ICMG specialised in mortgage packing and ran a successful b2c mortgage broking business, processing over 500 mortgages per month at its peak. The company worked closely with mortgage brokers such as John Charcoal.
Bohringer co-founded Financial Media Group in 2015, a specialist broker in unsecured and guarantor loans. On 1st May this year, the company announced the purchase of a 50% stake in online comparison website ‘Guarantor Loan Comparison,’ for an undisclosed fee.
The site will add to the Financial Media Group stable that includes SUCO and MASA, both online businesses that package leads for guarantor lenders. The company also owns Clearfunder, a commercial loan lead generator.
“We are very excited about our partnership with Guarantor Loan Comparison, which over the last 3 years has established itself as the one of the largest comparison websites for guarantor loans in the UK.’
‘With a strong foot in the market, it gives us a healthy position in the industry to liaise and negotiate with other guarantor lenders. With the site’s proven track record for generating organic traffic and direct enquiries, it fits in well with FMG’s lead generation abilities.”
Daniel Tannenbaum of Guarantor Loan Comparison explained:
“’I have worked with Ray and the FMG team for some time now and have been impressed with their knowledge of the guarantor loan space. A strategic partnership aimed at maximising the sites potential was an obvious fit.”
The site can be found at guarantorloancomparison.co.uk