It exceeds £10 billion in total lending for the first time
Fintech software supplier 360 Dotnet has exceeded £10 billion in total lending in the first quarter of 2022, attaining the feat for the first time with a 20% increase from the same period last year.
Q1 2022 lending increased by an additional £1.8 billion over Q1 2021 and is higher than any other quarter previously.
Sales hit over 45,000 mortgages written in Q1 2022, also 20% more than the same period last year.
NatWest saw the biggest increase in lending with +65%, overtaking Halifax in the top lender spot for 360 Lifecycle, while Santander was third with +45%.
“We’re delighted at NatWest to see our lending increase by 65% and to currently be the top lender for 360 Lifecycle,” Nadine Edwards, national account manager at NatWest, said. “We greatly appreciate the continued support we receive from the mortgage intermediary marketplace.”
Meanwhile, lender spread percentages remained similar throughout the past 15 months and showed that 60% to 80% lending is still the highest mortgage written LTV.
360 Dotnet recorded over 12,000 new client portal users in Q1 2022 which is a 10% increase from the end of 2021, having reached over 150,000 in total.
Over 78,000 FactFinds have been created in Q1 2022, which is 18,000 more than Q4 2021.
Ozgur Unlu, chief executive at 360 Dotnet, said they were elated to see groundbreaking figures early on.
“We have achieved so much in the past year with our new tools and integrations. It is great to see the results. I hope to see these figures increase for the rest of the year so we can have a record breaking 2022,” Unlu said.
David Smith (pictured), strategic relationships director at 360 Dotnet, expressed confidence that with a full roadmap of developments still to be released, 2022 will be an amazing year for the fintech company.
