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Stonebridge completions rose nine per cent to £8.5bn – results

  • 17/05/2021
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Stonebridge completions rose nine per cent to £8.5bn – results
Stonebridge, the national mortgage and insurance network, confirmed mortgage completions of £8.5bn for the financial year, despite major disruption to the housing market due to Covid in Q1 of the financial year.


March 2021 lending completion figures alone were over £1bn, a 79 per cent year-on-year increase while mortgage application figures for the month were 20 per cent up on the previous year.

The client mix analysis showed purchasers made up 57 per cent of its overall mortgage applications, compared to remortgaging at 43 per cent, against a 49 per cent – 51 per cent split the previous year.

Stonebridge said its Appointed Representative (AR) firms were continuing to maximise the opportunities presented by the stamp duty holiday extension providing a further catalyst to borrower demand, with April 2021 as strong as March for both completions and applications.

Stonebridge also boosted adviser numbers by 18 per cent to 829 registered individuals across 412 firms, both through its own broker firms and a centralised recruitment drive, with authorisation of a further 124 RIs pending.

The network said staffing levels had grown by 24 at head office with additional resource in every department

Rob Clifford (pictured), chief executive of Stonebridge, said: “Given how the financial year started for the housing and mortgage market back in April last year, to have posted these excellent results, particularly for mortgage lending and growth of the business, is very satisfying and testament to the quality of our AR firms and those of the entire Stonebridge team.

“To say the last 12 months has been challenging would be an understatement, and while our head office is again open – and we have made a considerable investment in turning it from a traditional office to a more collaborative space – the majority of Stonebridge staff are still working remotely by choice.

“I am incredibly proud of the way they have handled their work responsibilities through this pandemic and their continued commitment to supporting our AR firms,” he added.

Clifford said: “Overall, and in particular because this has been a year like no other, I must say a huge thank you to all AR firms, all our lenders and provider partners, and all of the Stonebridge team. It has been tough for all at times but everyone responded magnificently to these trying times, and rose to the occasion.”


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