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Thursday, 30 October 2014

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Carlisle mortgage adviser Andrew Mitchell retires

A mortgage adviser is deciding to hang up his calculator and retire after almost 20 years service in the city.

Andrew Mitchell photo
Andrew Mitchell

Andrew Mitchell, 66, started his company – Mortgage Matters – in 1995 and was originally based on the top floor above John Taylors in Devonshire Street, Carlisle.

Since then he has occupied a number of offices – including in The Crescent and Warwick Road – before settling at his current base in Victoria Place.

He started work in the Royal Bank of Scotland’s securities department in Edinburgh before moving to the Alliance and Leicester Ltd in the Scottish capital and then later Stranraer.

Andrew, who also wrote a weekly finance column in The Cumberland News for a number of years, said that the mortgage market had experienced a wide range of ups and downs and a lot of changes during the past 30 years. He added: “I’ve never regretted it and I’ve never missed a day’s work. Cumbrians are nice people to deal with.

“When I started off in Stranraer as a building society manager, mortgage funds were so scarce that solicitors would buy me lunch to try and get a mortgage for a client – of course it never worked.

“Moving through the years I have seen periods in the 1980s and 1990s where people were being offered up to 120 per cent of the value of their properties at up to six times their income.”

He added that since then lenders had adopted a more sensible approach and that lenders and advisers had to adopt a more thorough and prudent approach to assess what should be lent.

Andrew said that he had enjoyed meeting and helping people to borrow sensibly over the years and was glad Mortgage Matters would be in safe hands after selling it to accountancy firm Armstrong Watson.

He added that he had enjoyed writing his weekly column and said: “I tried to make it different every week and I tried to open people’s eyes to what they never knew went on behind the scenes.”

Andrew said that he planned to stay on for a few months to help the new owners of the business.

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