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Do you expect to see less or more second charge mortgage lenders in 2018?

Y3S increases profits by 105%

Y3S increases profits by 105%

South Wales specialist finance packager Y3S has increased profits by 105 per cent in the last financial year.

The firm says its growth is due to a strong demand for second charge loans and short-term finance combined with strategic marketing.

The latest annual results show a net profit of £864,000 compared to £420,000 last year and £196,000 the year before.

Group Finance Director, Benson Yeadon, credits the increased profits as organic growth, coupled with ambitious internal strategies.

“The past 12 months has seen another upward trend for Y3S despite ongoing investment needed to implement the new regulatory requirements,” he said.

Operations Director Barney Drake believes that there will be opportunity for the firm to grow further over the coming years.

“While some are predicting doom and gloom as the regulatory changes stay in the headlines,” he said, “we continue to develop new and exciting ways for mortgage brokers to expand their horizons through our specialist finance products.”

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