New commercial business looking for specialist underwriting staff

New commercial business looking for specialist underwriting staff


Up to 30 jobs are set to be created in 2011 at a new North East-based commercial mortgage lending business, signifying an upturn in the financial services job market.

Commercial Financial Solutions (CFS), which opened its doors for business this week, is planning to recruit up to 20 specialist Underwriters and Administrators by the end of February 2011 – and believes it could be in a position to hire a further 10 people by the end of next year.

The new firm has said it aims to recruit staff from the rich vein of specialist lending talent located in the North East, who may be currently unemployed or underutilised, due to the parlous state of the UK economy.

“A critical part of the launch period is ensuring we recruit and retain excellent Underwriters and Administrators who can make an immediate impact in our business,” commented CFS Managing Director, Kevin Pitt.

“Newcastle and the North East is the perfect place for us to look to find these people as the area has seen the death of some big name lenders in recent years – and no-one has moved in to fill the void.”

He added: “While we will never be a business on the scale of Northern Rock, we are still an attractive employment proposition for specialist people who are looking to return to the mortgage lending industry – or who are looking for a challenge with a new and dynamic organisation.”

CFS is basing its Underwriting and Administrative centre in Newcastle, while its sales operation is located in York. Its business is sourced through mortgage brokers and financial intermediaries located throughout the UK.

Mr Pitt claims that ‘the phone hasn’t stopped ringing’ since the business opened its doors on Monday. “We have been staggered by the level of interest in our commercial lending proposition,” he said.

“Intermediaries have got lots of potential commercial mortgage deals they need to place with lenders – and the calls we have been receiving demonstrates the huge demand there is out there among the small and medium-sized business community for specific types of financial products.

“In order to deliver the high levels of service we believe brokers have a right to receive, we are seeking to hire experienced people who are capable of making an immediate impact – and can add value to the relationships we are building with intermediaries throughout the UK.”

The first phase of recruitment is beginning immediately – with a potential second phase due to commence when CFS has consolidated its position as a well-known brand within the commercial lending industry.

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