Fleet Mortgages hits £500m mark in under 18 months

Fleet Mortgages hits £500m mark in under 18 months




Fleet Mortgages has announced its relationship with asset manager BlackRock has resulted in over £500m in buy-to-let mortgage lending.

The specialist lender, which launched at the beginning of 2015, has so far completed a tranche of loans for a number of BlackRock clients with new clients already lined up. One individual BlackRock client has already funded £240m worth of buy-to-let loans.

Bob Young, Chief Executive Officer of Fleet Mortgages, said its relationship with BlackRock was unique and it had brought a new type of investor and new money to the buy-to-let market.

“Our offering allows these investors to directly invest in the mortgage market – the largest single asset class in Europe – and secure strong returns.

“As levels of return drop in other asset classes, the UK property market retains its allure and demand has been considerable since our launch, and looking ahead to the future.”

Bob added that unsurprisingly the focus was on the credit quality of its lending and these were investors who were interested in high-quality, prime lending.

“We are not interested in ‘less-than-prime lending’ and this is clearly a further attraction for BlackRock’s clients.

“Passing half a billion of lending is a notable achievement and we, and BlackRock, are incredibly pleased with how the relationship is working and our ongoing activity levels.

“That said, we have major ambitions for the future, and looking at the appetite for this type of lending from investors, we are seeking to increase transaction levels and develop our activity in the months and years ahead.”

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