Fleet lending at over £500m per year

Fleet Mortgages is working at a lending run-rate of over £500m per year and expects to increase this to £750m in 2016

Fleet Mortgages is working at a lending run-rate of over £500m per year and expects to increase this to £750m in 2016.

The buy-to-let and specialist lender also increased the number of its staff to 54 and believes this will rise to around 100 by the end of this year.

Bob Young, Chief Executive Officer at Fleet, said: “With a year under our belt we have some very positive figures from high-quality lending to deliver to the market as we prove we are now a settled and major force in the world of buy-to-let lending.

“We have an ongoing commitment to keep working on all aspects of the Fleet Mortgages’ offering and throughout the year we will continue upgrading the systems we operate and the processes we run by to ensure they are optimised and working efficiently.

“We’ve already increased staff resources considerably over 2015 and, as we grow in terms of activity, this will continue.

“Our use of technology is designed to help our underwriters to be more efficient and there is a considerable focus on this area in 2016, along with continued training and development for the Fleet Mortgages team.” 

Fleet also revealed that £1.2bn of business had flowed through its system in its first year of lending, which was split between three areas: 60% in individual buy-to-let, 20% in limited company and 20% in houses of multiple occupation.

Keywords: Fleet Mortgages, Lending, Buy to let, Specialist lender, Fleet, Mortgages, Bob Young, Business, Finance, Property

Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/fleet-lending-at-over-163-500m-per-year