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Stonebridge expands firm numbers by 23 per cent

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  • 25/11/2019
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Stonebridge expands firm numbers by 23 per cent
Stonebridge has seen a 23 per cent growth in its membership this year as 59 firms have joined the network in 2019.

 

As part of this growth it has seen its adviser numbers rise by 29 per cent with 142 more brokers as part of the group.

By the end of October, Stonebridge included 316 appointed representative (AR) firms with 639 advisers.

As a result, the network reported £868m worth of lending applications during last month – its highest month for lending applications submitted so far.

This figure was up from £820m in September, and up five per cent on October last year.

Stonebridge said its continuing goal for 2020 was to grow the number of firms joining and help existing members recruit new advisers “in order to expand their businesses to meet growing demand for mortgage advice”.

The network has also announced the recruitment of a number of new additions to its overall team.

Andrea Chambers has joined as business training consultant, Billy Perry as a business standards assessor, Anushree Parthasarathy as a developer for its Revolution trading platform, Francesca Sorrell as a sales support administrator and Charlotte Hamblin as helpdesk support.

 

UK lending marginally up

Rob Clifford, chief executive at Stonebridge, said there had been speculation about the UK mortgage market but its figures showed a steady picture.

“We anticipate that the gross mortgage lending figures for the year for all UK Finance lenders will be marginally ahead of 2018, and it’s clear from our own data that our AR firms are taking a larger share of this.

“Looking ahead, we anticipate that the demand and need for mortgage advice will only grow, and it may also be that those who’ve felt they needed to sit on their hands during 2019 – especially given the political uncertainty – will find they come to a point of action during 2020.”

 

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