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Stonebridge sees value of completions rise 66% to nearly £2.8bn

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  • 04/02/2016
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Stonebridge sees value of completions rise 66% to nearly £2.8bn
Stonebridge Group, the mortgage and insurance network, saw the value of mortgage completions rise to nearly £2.8bn in 2015, a 66% increase compared to the £1.66bn achieved in 2014.

 

The value of life insurance sales grew significantly, reaching £7.59m over the year, up 79% on 2014’s £4.23m.

Stonebridge said increasing its overall adviser numbers from 203 in 2014 to 404 by the end of 2015 was one of the main reasons it achieved this growth.

Richard Adams, managing director of Stonebridge Group, said: “As 2015 progressed we saw a considerable increase in the number of advisers within the group and we anticipate this will continue into 2016, albeit at a slower level.

“This growth in advisory numbers has clearly fed into our impressive business volumes for mortgages, life, protection and GI [general insurance] business, and we are now in a very strong position to improve further on this.”

In December, Adams said the network is expecting to have 500 advisers in the group by the end of 2016. During the same month, Stonebridge added three former Legal & General appointed representative firms, the Premier Network, Mansfield Begbie and Premier Mortgage Services, to its network.

Last month, Stonebridge also launched a specialist lending panel to allow its members access to brokers which specialise in second charge mortgages.

The move has been made to comply with the upcoming Mortgage Credit Directive (MCD) changes regarding second charge lending.

From 21 March, second charge mortgages will be subjected to FCA mortgage rules.

In late January, The Loans Engine joined its panel, which also consists of Omega, Positive Lending and Touchstone.

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