A SUNDERLAND mortgage firm is moving up the property ladder and hoping to take on new recruits in the process.
Approved Mortgage Solutions has been based at the North East Business and Innovation Centre (BIC) in Wearfield, off Wessington Way, since 2007.
Thanks to a successful year, the company, which covers the whole of the North East, has just extended its premises on-site and hopes to create new jobs.
Originally based in a three-person incubator unit, in 2009 the company moved into a new home produced by knocking two offices into one larger one in the Slipway Centre.
Now that has been extended again, going from 800sq ft to more than 1,000sq ft, to make space for more staff in the coming year in response to a rise in demand.
BIC bosses were able to remove a wall to let the firm take over an adjoining office to create one large open-plan area for the company.
Practice principal Paul Hampton said: “We currently have eight advisers and three administrators.
“Because we will be increasing staff numbers we needed more space for desks and filing.
“We have seen an increase of 40 per cent in our business levels from last year due to the Financial Conduct Authority announcing that all mortgages must be on an “advised” basis rather than “information only”.
“The extra duty of affordability is now placed on the lenders.”
He added: “There is a lot of negative attention about these changes but there are also positives for people wishing to take out a mortgage.
“It means lenders can be more flexible underwriting a case.”