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360 Dotnet reports sharp jump in lending

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  • 09/08/2022
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The amount of mortgage lending being written through 360 Dotnet’s software has increased by more than a fifth in the second quarter of the year, the technology firm has revealed.

360 Dotnet confirmed that total lending in the second quarter passed £11.6bn, up from the £10.7bn written in the first quarter of 2022. As a result, to date this year £22.3bn has been written through 360 Dotnet so far this year, up by 22 per cent on the same period of 2021.

Over the first six months of the year, more than 91,000 mortgages have been written using the software, up by 14,000 year-on-year. 

The firm reported a five percent jump in product transfers between the first and second quarters of the year, to an overall figure of 10,686. It cautioned that as interest rates rise, this is likely to increase further.

Natwest is the top lender with 360 Lifecycle, accounting for more than 11,000 mortgages written in 2022 to date, followed by Halifax and Santander.

For life and income protection policy sales Legal & General and Royal London were the top insurance providers, with 360 Dotnet reporting it has seen a 20 per cent growth in sales of general insurance policies.

The firm revealed it has seen a 27 per cent jump in users of its client portal year-on-year, coming to a total of over 160,000. So far this year, more than 147,000 FactFinds have been created, up by 24,000 on the final half of 2021.

Ozgur Unlu (pictured), CEO of 360 Dotnet, said that 2022 would be a “groundbreaking year”, with further developments lined up for the coming months.

Stephen Cowdell, head of intermediary sales at 360 Dotnet, said that with base rate potentially hitting 2.5 per cent by the end of the year, it was likely brokers would be focusing on remortgaging and product transfers.

He continued: “This makes the importance of using technology to ensure a streamlined sales process, more important now, than ever before. It is encouraging to see our customers making the most of the tools we offer, and we hope to see more customers adopting our marketing leading technology, to help them to be more efficient when dealing with their customers needs.”

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