Yes Group To Increase Unsecured Loan Market Share

Fri, 14 Sep 2007

South Wales-based Yes Group has climbed to the top ranks of unsecured loans brokers in the UK thanks to its acquisition of No Worries Loans .

The group has now set its sights on gaining 55 per cent of the UK unsecured loans market in the next six months.

The combination of No Worries Loans and the group’s existing loans broker, Yes Loans, now handle £15m worth of loan applications each day, giving them a 35 per cent share of the UK market in unsecured non-standard loans – more than any other operator.

Sally Hill, the managing director for No Worries Loans will now take the same position at Yes Loans and has already planned a range of initiatives designed to increase their UK market share up to a 55 per cent by March 2008.

In addition, Hill is also looking to drive revenues and profits of the other Yes Group businesses, including telephone marketing company Dial, which was successfully taken over last year by Yes Loans – saving 200 jobs in the process.

She explained that the moves will have a major impact on the creation of new jobs and on career opportunities for the 300 existing employees of the group.

Leeds-based No Worries Loans was launched by Hill earlier this year following the development of another successful business, Phones on Finance, which she still runs.

The new deal brings together the capacity of No Worries’ call centre operations in both Leeds and India and the existing capacity and expertise in Cwmbran.

This, according to Hill, means the opportunities the businesses will have to develop relationships with consumers are significantly increased – which will help fuel the company’s growth plans.

She added: "There’s huge potential with the combination of these two businesses to double profits and drive up daily loan applications to £23m."
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