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Stonebridge reports 53% growth in value of mortgage sales for 2016

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  • 12/01/2017
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Stonebridge reports 53% growth in value of mortgage sales for 2016
Stonebridge group, the mortgage and insurance network, completed 53% more mortgage business by value in 2016 than the previous year – arranging £4.2bn worth of home loan finance.

Its life and protection business out-performed its mortgage activity in terms of growth, with the division enjoying a 56% rise in business value from £7.6m in 2015 to £11.8m of life business completed last year. General insurance sales, by value, rose by 37.5% from £532,000 to £731,000 year-on-year.

Stonebridge said the growth in business was due to an increase in the number of advisers working across the group as well as a rise in the productivity of its member firms.

In December, the group reached its target of 500 mortgage advisers spread across 226 appointed representative firms, which was a 25% uplift on 2015.

Paul Nye (pictured), director, business partnerships at Stonebridge Group and Stonebridge Genus, said: “It’s clearly very pleasing to be able to announce a considerable uplift in our business volumes across our three core product areas in the group over the course of 2016. Given the way the year panned out with some major political, economic and regulatory shocks, it’s testament to the work of all the advisers within the group that we are able to show such large percentage gains particularly in terms of our mortgage completions and our life business volumes.”

Nye said the group’s focus in 2017 would be to continue to grow and develop its proposition in both the network and directly authorised markets.

Stonebridge will be announcing its full results and plans for the year ahead at its annual conference, to be held at the East Midlands Conference Centre in Nottingham on the 30 January.

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