A new entrant into the mortgages market has revealed plans to create up to 109 jobs in Glasgow.
The Mortgage Lender (TML), which set up its office in the city six months ago, said the jobs boost comes after it secured a regional selective assistance grant, worth up to £800,000, from Scottish Enterprise.
Chief operating officer Hugh Meechan said: “We have made Glasgow our base due to its long history and continued position as a key financial services hub. The availability of experienced, loyal and hard-working employees makes the city an ideal location for us to build and grow a successful business.
“At this early stage of our development, support from Scottish Enterprise is both a financial and morale boost. This investment demonstrates its faith in us and our plans, and a desire to help the Glasgow economy.”
TML, which lends exclusively through mortgage intermediaries, pledged that all its new jobs would pay above the national living wage – currently set at £7.20 an hour for those aged 25 or over – and said it was committed to considering younger workers for “all appropriate roles”.
Business minister Paul Wheelhouse welcomed TML’s expansion plans in Glasgow, which he described as a “key financial services centre” for Scotland and the UK more widely.
“Growth and innovation are vital to its success and clearly embedded in the TML strategy,” he added.
Adrian Gillespie, managing director of growth companies, innovation and infrastructure at Scottish Enterprise, said: “With a strong, established and connected financial sector, Scotland was the ideal launch pad for TML.
“The company has joined the many investors who benefit from Scotland’s top talent and effective business environment for the financial sector. It has made great progress since launching earlier this year. We look forward to working with the TML as it progresses its ambitious expansion plan.”