Cattles PLC remains bullish
Sorry about the predictable pic and headlines - I feel like I could get a job working for the Sun!
Anyhow, following up on my recent post post detailing the listed companies dealing in secured loans, I thought I’d give you an update on Cattles PLC, who reported their Interims this morning. In my original post it appears I was slightly inaccurate in my assesment of their involvement in secured loans. I originally posted their only involvement was via their Dial4aloan brand, but it appears, in partnership with the Alliance and Leicester, Cattles are also growing a brand called Welcome Financial Services. To quote from this mornings results
“The re-organisation and integration of Dial4aloan into the consumer credit division was successfully completed last year. This operation also provides the division’s existing customer base with 3rd party re-mortgage facilities under the trading style Welcome Mortgages, and currently introduces new business volumes of around £10 million per month to external mortgage lenders on a commission basis.
As previously reported, Alliance and Leicester has established a partnership with Welcome Financial Services, to launch its new secured 2nd charge ‘Homeowner Loan’ product. Alliance and Leicester is undertaking the related marketing activity for this product and Welcome Financial Services is managing the application process and customer relationship management. Sales so far have been small as Alliance and Leicester gain experience in marketing to this segment and together we refine the sales fulfilment process. A number of enhancements are planned for the remainder of 2006 to build on current performance.
