Fleet said Cox will now take on the ‘wider brief’ that comes with this more strategic role, with responsibility for the commercial element of all the lender’s activities.
The lender said Cox had already proven his worth to the business having helped transform, increase and develop Fleet’s distribution partnerships, adding that his focus is now across the entire business focusing on the strategic and commercial elements required to deliver further growth.
Cox joined Fleet Mortgages in November 2018 from Hodge Lifetime where he was business development director, which followed his time at Sesame as head of commercial development.
Bob Young, chief executive officer at Fleet Mortgages, said: “Steve has been absolutely key to our success over the last two years and helped shape and guide the business through what has often been a very tricky environment. This new role is testament to the work Steve has carried out, the influence he has at Fleet and in the wider mortgage community, and how we intend to move forward.”
Young added: “Every decision we make as a lender has a number of elements to it – credit risk, mortgage processing and commercial, and Steve will be responsible for helping us to continually develop the commercial plan for Fleet.
“To be fair, he has undoubtedly already been doing this for some time and we are very pleased to make this promotion official and to begin the new year with such positive news.”
In December, Fleet reintroduced a maximum loan size of £2m, up from £1.5m up to a 65 per cent cap on its standard and limited company buy-to-let range. This is not applicable to properties above or adjacent to commercial premises, or houses in multiple occupation (HMOs) and multi-unit blocks (MUBS).
And for HMO and MUB landlords, Fleet is reducing the time the primary applicant must have owned a standard buy-to-let, HMO or MUB property down from two years to one.
Fleet CEO Bob Young received the ‘Outstanding Contribution’’ award at the 2019 British Specialist Lending Awards.