The Co-operative Bank’s dedicated intermediary mortgage business lifted lending from £0.3bn in 2009 to £0.6bn last year. The figures were released today as part of The Co-operative’s annual results for 2010 which saw the financial services business increase profits by 17.7% to £208.6m.
Lee Gladwell, business development director at Platform, said: “These numbers show how we significantly stepped up our lending and support for intermediaries during 2010.
“Whilst the numbers represent a small proportion of the market, they confirm our growing presence in a period when many of our competitors were retrenching.
“In 2009, we controlled volumes carefully as we built a new proposition anchored on helping intermediaries really deliver for their clients. Last year, we broadened this to a wider broker market whilst remaining absolutely focused on listening and responding to their needs.
“We plan to continue this growth during 2011, particularly building our presence in the buy-to-let market.”
