MortgagesMar 2 2023

Stonebridge mortgage lending hits ‘record high’ of £12.6bn

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Stonebridge mortgage lending hits ‘record high’ of £12.6bn
Stonebridge chief executive, Rob Clifford speaking at the network's annual conference in Birmingham, 27 February 2023.

Mortgage and insurance network Stonebridge Group has reported £12.6bn worth of mortgage lending in 2022, a record high for the group.

The group saw its volume of mortgage lending increase by 19 per cent on 2021, as lending volumes increased in 10 out of the twelve months in 2022.

Speaking at the group’s annual conference held earlier this week (February 27) in Birmingham, chief executive of the network Rob Clifford said looking ahead he expects 2023 to be slightly more challenging. 

He noted however, that 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.”

Stonebridge has said it maintains “extremely strong” growth ambitions for the year ahead and plans to do this by expanding the number of AR firms and advisers within the network.

Currently there are over 1,000 advisers in the network.

In attendance at Monday’s conference was over 500 of the firm’s appointed representatives, making it the largest conference in the network’s history.

At the event, Stonebridge’s business partnership director, Jo Carrasco outlined the network’s sales results for 2022 and highlighted that mortgage application numbers increased by 9 per cent while the volume of lending was up 10 per cent annually.

The group’s protection business also saw an increase in application value in commission terms from 2021, with general insurance growth up 15 per cent.

Following the conference, Stonebridge held its annual dinner and award ceremony, hosted by TV personality, Rob Beckett.

“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,” Clifford said.