ANYONE who launches a new mortgage company in the present climate has to be a bold spirit, but Paul Flavin believes he has the right formula.

Before the sub prime mortgage crisis and world financial crash, Britain had 55,000 mortgage companies. The number, according to Financial Service Authority figures, has fallen to 12,000.

Paul saw this as an opportunity rather than a warning when he set up Miura Financial Solutions, based in Alexandra Road, Southend.

“There are just a quarter of the number of firms left, but the number of people with mortgages or wanting mortgages has barely changed,” he said.

“That has to be the best possible case for going into the market at this stage, if you offer a sound mortgage service.”

Miura also has the advantage of new technology which allows potential customers access to every stage of the sales process.

Paul explained: “The client has a laptop and sees everything exactly as the mortgage adviser sees it on screen.

“Other people in the industry have said we were mad to do this, but we think transparency is one of the things that is most valued by customers.”

Paul chose the name Miura after his favourite car, the classic Lamborghini Miura of the Sixties.

“I’ll know I’ve got it right when I can afford to buy one and park it outside the office,” he said.