The mortgage network Stonebridge has revealed its lending total for the past year, and it shows that the company enjoyed the best 12 months that it has had since its launch.
Total mortgage lending recorded by the firm for the year was £13.5 billion, which represents a notable increase on the figure for the previous year. Over the course of 2023, Stonebridge facilitated loans to the tune of £12.4 billion. Not only is the total for last year higher by more than a billion pounds, but it also sets a new yearly record for the firm.
When looked at on a monthly basis, it was December that brought the highest lending. That month accounted for £1.32 billion of the total figure, which is somewhat surprising. December is usually viewed as being a slow month for the mortgage market, because people are preoccupied with Christmas preparations.
The majority of the loans that were agreed were purchase ones, with these making up 44% of the total. That is a big change from the situation in 2023, when they accounted for just 26%. Product transfers were responsible for 31%, while buy-to-let loans made up 13% of the total amount.
According to Mortgage Solutions, Rob Clifford from Stonebridge said that:
“These numbers are impressive – and I want to thank all of our advisors for the great work they do, every day, to deliver brilliant mortgage advice across the UK. They’re truly appreciated by the Stonebridge team.”
This is why many advisors choose to follow up CeMAP training by joining an established network.
