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Stonebridge reports rise in mortgage applications and completions in 2021
Mortgage and protection network Stonebridge has reported growth in mortgage applications and completions through 2021 into this year.
Its results were announced at its annual conference held at the Hilton Birmingham Metropole on Monday.
Jo Carrasco, business and partnerships director, said mortgage application numbers have increased 19 per cent annually, while the volume of lending via applications rose 24 per cent.
Some 55 per cent of applications were for purchases, up from 48 per cent the previous year, while 15 per cent were for buy-to-let and a fifth were product transfer.
The volume of lending generated by Stonebridge surged by a third on 2020, while completed case numbers increased by 27 per cent. Last year, the network confirmed mortgage completions of £8.5bn for 2020 to 2021.
So far year-to-date lending volume completions are up by 28 per cent, with £1bn of lending completed in February this year alone.
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Stonebridge said February was a record month for the network after its year-to-date application lending volume increased by 26 per cent and £1.35bn of mortgage applications were submitted.
Within its protection business application value in commission terms rose by 27 per cent and completion value increased by 36 per cent. For general insurance, application value in commission terms went up by 29 per cent and completion value grew by 38 per cent.
Rob Clifford, chief executive of Stonebridge (pictured), said despite the upheaval of the pandemic, 2021 was a strong year and this was continuing into 2022.
He added: “There are clearly a large number of ongoing factors that will shape 2022’s housing market, many beyond our control, however consumers continue to choose impartial advice from trusted professionals, and therefore we believe – with our support – advisers will continue to be in demand. By making the most of those opportunities they should have plenty of business to occupy them throughout the year and beyond.”