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Advanced Mortgage Solutions (Pink Home Loans) : History and Information

 

1990 – 2000

 

Set up initially in 1990, Advanced Mortgage Solutions was re-branded Pink Home Loans in 1999 and then bought out by the Skipton Building Society in 2000.

 

2001 -2006

 

Tony Jones replaces Peter Presland as Managing Director of Pink Home Loans in 2002, then in August Skipton Building Society was added to their direct lender panel.  In December Dev Malle was appointed as head of operations.  In 2003, Pink appointed Ian Merriman as Head of Sales and Sarah Anderson as Operations Team Manager, as well as launching a revamped website.  Pink were then one of seventeen satellite businesses owned by the Skipton including Connells, Amber Homeloans, Call Credit and Bailey Computer Services. 2004 brought a Competition-Commission enquiry into PPI which found that Pink were one of the few mortgage Networks that sold PPI as a standalone product, and the network was awarded 5 stars by the Financial Adviser Magazine.  In 2005 Pink added Trigold to its sourcing system for AR’s. This was also the year however when Pink announced it was to make 30 staff redundant.  Also Dev Malle was promoted to Sales Director, but left again in 2006 to join PTFS.

 

2008

 

Barry Meeks CEO left Pink prior to a big shuffle in its executive team, with David Copland remaining Managing Director but working more closely with Phil Jay at BDS and parent company Skipton. In February 2008 Pink acquired the BDS mortgage group who at that time had 150 AR’s. The back end of 2008 was also a very good time for AR recruitment with a concerted push by Ian Merriman boosting AR numbers.  The network also launched broker remittance software to assist them to keep track of commissions, and an equity release panel for selected AR’s.  

 

2009

 

Pink takes it’s “Diamond Club” top achieving AR’s to Chepstow, while its parent company the Skipton building Society sees its profits fall by 86%.  The network amalgamates the staff of Pink and BDS in a rationalisation exercise.  In April Pink Homeloans added will writing to the portfolio of services available to its AR’s. Following the collapse of Mortgage Times Pink announced an aggressive drive to increase its AR numbers.

 

2010 (Jan - May)

 

In February Pink increased its monthly and PI fees for AR’s as its accounts revealed that it had lost £2,000,000 as a result of its purchase of the BDS group in 2008.  Pink win the “Best Mortgage Network” award from Mortgage Strategy.

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