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Pink hits record mortgage completions in H1

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  • 17/08/2016
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Pink hits record mortgage completions in H1
Pink Home Loans reported strong growth in the first six months of the year, delivering 9,825 mortgage deals to customers, a record number of network completions.

Compared to the first half of 2015, the volume of completions surged by 32% beating the market average of 23%, according to Council of Mortgage Lenders (CML) figures. The value of mortgage deals completed at Pink in H1 totalled £1.9bn.

Applications at Pink hit £2.3bn for the first time from the beginning of January to the end of June, 23% higher than H1 2015.

Toni Smith, sales operations director at Pink (pictured), said a combination of good availability of products, strong customer demand and new lenders coming to market had created “perfect conditions” for the intermediary market to grow this year.

“During this time, we have maintained our promise to support brokers, and invested in our processes and members. Through these continued commitments the network has retained its market position and gained market share, giving us a strong platform to deliver a memorable performance for the full year,” she said.

“Considering the current degree of uncertainty in the mortgage market, it is more important than ever for lenders and brokers to deliver a holistic offering to their customers. This should include a range of options to suit varying borrower needs, including remortages, second charge loans and later life lending. This approach will help to ensure businesses remain both agile and robust, and importantly, ensure they are able to adapt as the market evolves and new challenges emerge.”

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