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Stonebridge mortgage completions grow to £3.6bn amid shift to purchases

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  • 12/09/2019
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Stonebridge mortgage completions grow to £3.6bn amid shift to purchases
Stonebridge Group has seen its mortgage completions increase by 15 per cent to £3.6bn in the first six months of 2019.

 

The mortgage and insurance network also saw the mortgage applications placed through its business valued at £4.6bn.  

Stonebridge said it had seen a shift in its purchase and remortgage split during the year. At the end of 2018, it was 43 per cent purchase and 57 per cent remortgage, but for the first half of 2019 it has swung to 52 per cent purchase and 48 per cent remortgage. 

The network’s general insurance business levels improved throughout the first half of 2019, up 18 per cent on the first six months of 2018.  

Stonebridge also revealed its adviser numbers had continued to grow as predicted during the year, from 608 at the end of December 2018 to 623 at the end of June. 

Jo Carrasco (pictured), business partnerships director at Stonebridge Group, said: “It’s interesting to note how we’ve seen a shift in terms of purchase and remortgage mix. There is a widespread feeling in the market that purchase business is down right across the board, but our 2019 has been marked by a move towards purchasing not away from it.  

“Indeed, the majority of our mortgage business has been for purchase this year and I suspect we are bucking the trend as we help our member firms win more share.” 

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