Steve Cox

Fleet Mortgages exceeds applications target every month since mortgage market return




Fleet Mortgages has surpassed its target for applications every month since it returned to the mortgage market earlier this year.

The specialist BTL lender — which had to pull its product range in January while it waited for its next funding line to be made available — returned to the mortgage market in April.

Steve Cox, distribution director at Fleet Mortgages (pictured above), described the accomplishment as “significant” in an exclusive interview with Bridging & Commercial.

“When we were closed, obviously, myself and Bob Young [CEO at Fleet Mortgage] spent a lot of time keeping our intermediary partners informed [as to] what was happening, where we were going [and] when we were likely to return. 

“But, of course, when you actually open the doors again, you don't know what's going to happen.

“You can't guarantee that advisers are then going to start using you straight away.

“[It’s] testament to us, our staff, proposition [and] reputation that our brokers have believed in us and that business has come back in.

“Because, if you close, you're putting your reputation on the line with intermediaries and customers.”

Steve added that the specialist lender had begun to see a “shift” in the BTL sector.

“…Generally speaking, what we're seeing is a shift towards limited company, HMO or multiple unit blocks.

“We still do considerable volumes [at] the vanilla end of the market, but we can definitely see in the numbers a shift towards those specialist areas.”

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