Figures obtained from Companies House show that mortgage lending reached £63m in the year to 31 December 2012, considerably up on the £7m figure recorded in the previous 12 months.
This financial year saw Metro Bank open up to the intermediary channel for the first time, initially through a select group of mortgage brokers. It has since started offering its products through several networks, including Tenet and Legal & General.
Metro Bank posted a loss of £35m for the year, a rise from the £19m loss posted in 2011. The bank said that the increases losses were a result of ‘significant investment’ across the business.
Richard Saulet, director of mortgages and commercial delivery at Metro Bank, said: “Mortgage lending was half of all lending here at Metro Bank last month showing that both our direct and broker channels have been very successful to date.
“The other half of our lending was to commercial customers. At Metro Bank, our customers and their needs always come first and we have built strong relationships with all our customers as well as broker partners.
“Our mortgage products, in addition to our commitment to underwrite on an individual basis, have enabled us to continue offering the very best in service.”
The bank had 15 branches across Greater London and South East at the end of the year and plans to open a further 13 in 2013.
