Its lending activity remained strong despite market turmoil
Buy-to-let specialist lender Fleet Mortgages completed over £1.2 billion of new lending last year, up on the previous year’s figure of £782 million.
Fleet said that despite considerable turmoil within the lending market, particularly during autumn last year, its lending activity remained strong throughout 2022 with its busiest completion months taking place between August and November.
The lender also saw a significant increase in employee numbers through 2022, moving from 112 at the start of the year to 170 at the end of December. It also introduced a new satellite office in Cardiff with a specific focus on underwriting.
“2022 was undoubtedly a rollercoaster year for the entire mortgage market, so we are very pleased to be able to announce a significant increase in our lending completions,” Steve Cox (pictured), chief commercial officer at Fleet Mortgages, commented. “At the same time, we have also added some considerable resource to the business, bringing in excellent people to our Fleet head office, as well as the opening of our satellite office in Cardiff.
“This has allowed us to retain our service levels and to ensure we can work quickly on behalf of our intermediary partners and their clients.”
Fleet currently offers products across three core buy-to-let mortgage ranges – standard, limited company, and houses in multiple occupation and multi-unit freehold blocks – with five- and seven-year fixes, trackers, plus green fixes and trackers available. Its product guide and full list of lending criteria is available on its website.
2022 was the first full year of lending under Fleet’s owners, Starling Bank, with all funding coming via the digital bank, with the average loan amount over the course of the entire year just shy of £215,000.
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