Chaseblue Loans was established in 2007 just as the credit crunch was starting. One of the original founders was Ben Gillespie, the current managing director. A graduate in economics who has six years experience of the secured loans broking, he has become highly respected within the broker industry.

Our main challenges when starting the business

It was tough times as lenders were pulling out of the market, choice of products were extremely sparse and office space and work force limited. The business had to cut its cloth accordingly to survive but managed to do so and come out the other end much stronger for it.

Success Factor

Following an investment from y3s Group in 2015, the UK’s largest B2B broker, it has allowed Chaseblue to grow and benefit from combined economies of scales, whilst allowing the firm to continue to trade as a separate entity, providing flexibility to draw upon the Group’s knowledge and expertise and central resources including HR, marketing, IT, finance and compliance when required. The investment has also enabled Chaseblue Loans to move into a much larger business premise, (four times bigger in size), and has helped drive its recruitment programme, strengthening the broker manager and administration teams from 7 to 17 and supported the strategy to grow its product offering which has increased profitability and market share. Overall, the joint venture has enabled Chaseblue Loans to fulfil its planned growth faster and more effectively than ever before. As a Group, the firms involved currently complete around 12 per cent of all second charge loans written.

The Future

The focus for the future is to expand the business further by accommodating the greater expected demand for alternative finance solutions fuelled by regulatory requirements in the run up to the Mortgage Credit Directive in March 2016. The firm will continue to invest in recruitment and plan to grow its specialist team to 20 by the end of this year and to 35 by 2016. This, coupled with a structured training programme is evidence of a commitment to comply with the regulatory changes that are imminent. Chaseblue want to ensure that it stays ahead of the pack and is prepared to go above and beyond what the FCA requires.