Fleet Mortgages' CEO Bob Young to retire

Fleet Mortgages has announced that its CEO Bob Young (pictured above) is set to retire in April after a career in lending of over 25 years.

Since launching the BTL lender in 2014 together with his management team, Bob has overseen Fleet Mortgages’ growth over the past seven years, during which it advanced over £3.3bn in mortgages across more than 15,000 accounts.

At the end of December 2021, Fleet Mortgages had over £2bn in mortgages under management.

Throughout its seven-year history under Bob’s leadership, the specialist lender has grown its team to 109 employees, conducted multiple securitisations, and in the summer of 2021 was fully acquired by Starling Bank in a £50m cash and share deal.

Prior to launching Fleet Mortgages, Bob previously worked at CHL Mortgages for over 17 years in various roles, including managing director from 2004 to 2014.

Following his retirement, Bob will be replaced by Mike Lane, who has been with Fleet Mortgages since November 2014 and is currently the lender’s COO.

Mike has over 30 years’ experience in both retail and financial companies with wide financial services experience acquired in various cross-company operational, change management and IT roles.

“All good things come to an end, and this seems the right time to announce my retirement and to hand over to Mike and the management team to build on what we’ve all achieved over the last seven or so years,” said Bob.

“It will undoubtedly be business as usual at Fleet Mortgages under Mike’s leadership and with what I believe is the best senior management team in the market. 

“Given our acquisition by Starling last year, it feels like Fleet Mortgages is embarking on its next phase — phase one of developing it was all about getting a new lender off the ground, establishing our credibility and building a business which could be trusted by our intermediary partners and their clients. 

“I believe we’ve achieved that in spades and our excellent performance in 2021 is testament to that, as is our start to this year. 

“In my opinion, Fleet Mortgages is everything we said it would be and I feel I’ve accomplished everything I set out to do when establishing it back in 2014.

“This is a business and team I am incredibly proud of; the quality of our proposition, our service levels and everything about it is something I hoped we could deliver, and to see it come to fruition and to firmly establish itself for the future is wonderful. 

“Lending has been my working life for over 25 years and with Fleet Mortgages in the safest of hands, I am looking forward to enjoying a long and happy retirement, knowing full well this is a business which will go on to bigger and better things.”

Anne Boden, CEO of Starling Bank, commented: “Bob founded Fleet Mortgages with the aim of creating a business its employees could be proud to work for; he can be proud himself for achieving that goal and so much more. 

“It has been a privilege to work with him and with Fleet Mortgages for the last seven months and I would like to thank him for his service. 

“Mike brings a wealth of experience and we look forward to working with him.”

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