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Stonebridge sees more than £1bn of mortgage apps in July

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  • 26/08/2020
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Stonebridge advisers processed more than £1bn of mortgage applications in July, a record for month for the network.

 

However Stonebridge did not confirm how much lending it completed in the month.

The number of cases handled by the network last month exceeded 5,500 with 58 per cent of applications for purchases.

The network also grew its adviser numbers with 22 new brokers joining in July taking Stonebridge’s adviser headcount to 709.

All staff, and employees who work for Revolution, Stonebridge’s trading platform, who had been furloughed returned to work on 1 August and no redundancies have been made.

The firm’s offices in Basildon and Nottingham have reopened with safety and social distancing measures in place.

Rob Clifford (pictured), chief executive of Stonebridge, said: “During what has been an incredibly challenging time for all, we are pleased to announce that July saw our appointed representative (AR) firms and advisers place a record amount of lending applications, exceeding the £1bn mark after a very strong June.

“August is also looking positive, and the post-lockdown enthusiasm plus stamp duty changes are clearly creating increased demand for advice,” Clifford noted.

He added that the recruitment team was also very active.

 

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