Fleet-footed new lender shows strong first quarter

Fleet-footed new lender shows strong first quarter

Specialist lender Fleet Mortgages saw £145m of business put through its systems in its first full quarter, with much of it owed to working closely with intermediaries, its chief executive has said.

Bob Young, chief executive of the new lender, which was established in Hampshire and focuses on areas including buy-to-let business, said the lender saw 1,100 individual advisers from 660 firms register to conduct business with it in the first quarter of 2015.

Its average loan size across all types of products is £245,000.

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Mr Young said: “It is not just the level of business we have seen, which is pleasing, but the very high quality of the cases from our intermediary partners, with larger average loan sizes than anticipated, couples with lower average LTVs and some incredibly credit-worthy borrowers.”

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Earlier this year, SimplyBiz Mortgages added Fleet Mortgages to its panel of lenders, meaning all SimplyBiz Mortgages members have now got access to the full range of Fleet BTL.