New buy-to-let lender Fleet Mortgages has unveiled ambitious expansion plans.
Since its launch late in 2014, the Hampshire company has expanded its intermediary distribution coverage, and there has been a 30 per cent growth in staff numbers in the operations team since the start of the year.
Chief executive Bob Young said he planned to further grow this to 50 per cent by the end of the year.
He said: “Our development and growth continues to exceed our expectations, and therefore we have accelerated our expansion plans, which will allow us to meet the growing level of interest in our products and proposition.
“We have already recruited a number of new employees to the operations team, and we will be adding further experienced personnel to the business shortly.”
In August the company will be moving to new headquarters in Fleet, Hampshire, which Mr Young said would give it the necessary space to grow the team.
This comes as the lender announced a series of rate reductions across its product range for individual landlords.
Background box
In the first three months of 2015, Fleet Mortgages had £145m worth of buy-to-let business put through its system by intermediaries, with an average loan size of £245,000.
Fleet Mortgages launched in November last year, completing its first deal in January.
In April the company added Sesame to its distribution panel, the ninth network to be included.
