The firm said its lending volume rose in 10 out of the 12 months of the year.
Stonebridge’s results were announced by its business partnership director Jo Carrasco at its annual national conference at the Hilton Birmingham Metropole on 27 February.
It was revealed that the number of mortgage applications rose by nine per cent and the volume of lending increased by 10 per cent when compared to 2021.
Almost half (48 per cent) of applications were for house purchase, down from a 57 per cent share in 2021. The level of buy-to-let applications stayed flat and accounted for 15 per cent of its business.
Stonebridge said 2022 was also a good year for protection business as the application value in commission terms rose on the previous year. This was accompanied by a 15 per cent rise in applications for general insurance.
The number of advisers exceeded 1,000 in 2022 and the conference welcomed a record 500 broker attendees.
The network said this growth enabled it to increase its staffing levels, especially within its operational and business development teams. It has also expanded its business standards team who work with firms to assist them with Consumer Duty compliance.
Following the conference, Stonebridge held its annual dinner and award ceremony with entertainment from comedian and TV personality Rob Beckett.
A rollercoaster year
Rob Clifford (pictured), chief executive of Stonebridge, said 2022 was a “rollercoaster of a year” but praised its appointed representatives (ARs) for working through the uncertain market.
He added: “Looking ahead, 2023 is also likely to be a slightly more challenging year with some headwinds to overcome, but there is also a range of opportunities to take advantage of, particularly in both the remortgage and product transfer space, and specifically in terms of ensuring clients have the protection cover they need in what remains a difficult economy.
“We maintain extremely strong growth ambitions for Stonebridge, and while some firms might well shrink their adviser numbers, we continue to follow a strategy that is focused on both recruitment and helping our existing firms add to their headcount with our high-quality support structures.”
Clifford said: “Despite all its challenges, 2022 was still a major growth year for Stonebridge and with our deep-seated commitment to this sector and to all our AR firms, we intend to continue this strategy throughout 2023.”
