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Stonebridge sees over £1bn of mortgage applications in September

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  • 13/10/2020
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Stonebridge sees over £1bn of mortgage applications in September
Stonebridge has revealed its member firms processed 5,600 mortgage applications worth over £1bn in September, a 19 per cent annual increase.

 

As of the end of August, its year-to-date lending volumes had risen seven per cent compared to the same period last year.  

The network is also seeing growth in its adviser numbers as by the end of September, 13 advisers were recruited by its appointed representative (AR) firms bringing its total headcount to 733. 

Stonebridge expects to expand recruitment further within its member firms as it said there were over 150 applications either pending, onboarding or in the initial stages by the end of last month. 

Since the start of the year, the network has seen 59 advisers join its existing member firms. 

Rob Clifford, chief executive of Stonebridge, said: “We’re very pleased to see a continuance of our AR firms’ excellent mortgage and protection results which have been progressing well ahead of forecast, since the first lockdown was eased back in May.  

“Mortgage application numbers are performing particularly strongly, and our completion levels continue to grow every week. In that sense, it has been an excellent recovery and we anticipate this will continue to strengthen particularly over the next two quarters. 

He added: “The ongoing support we are able to offer firms extends into proactively helping them to recruit more advisers in order to meet demand and their own firm’s growth ambitions, and again we have seen excellent levels of organic growth within firms, with the majority of new Stonebridge advisers joining our existing members. 

 

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