Case Studies

Creating systems, forecasts and accounts for a mortgage broker

The Mortgage Broker

It’s a difficult time to be a mortgage broker. You need to firm grip on your financial reporting, knowing exactly where costs are; who is performing and who is not.

And you need a flexible forecast, demonstrating the possible scenarios of where the business may go.

Getting the systems up to scratch

This was a short-term assignment to get in place the systems the client needed.

We brought the bookkeeping in-house, training up a staff member to do the work previously undertaken under an ineffective outsourcing arrangement.

The forecast model

We set up a simple forecast model, which the client could use themselves. It allowed them to flex the key drivers affecting the business – the number of fee owners, the number of sales they would win, the average house selling price, and the commission percentage.

It gives them the tool to forecast for themselves what will happen in the business, as external circumstances change

Management accounts

We set up the management accounts model, directly linked to the accounting system. As with all our formats, it was designed to highlight those key performance indicators which are meaningful for the business.

Giving them the tools they need

When we had done all this, the client decided that they had the confidence to run on their own.

And that’s fine with us – we are the flexible Finance Director service, and we are experts at making ourselves redundant!

We will always be there if they need a friendly ear, or another project comes along, and we have the satisfaction of having made a significant change in a good business.