Fleet Mortgages enjoys strong first quarter
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 across all types of products of £245k.
Fleet’s products are tailored towards experienced landlords and property investors, and cover mainstream buy-to-let residential mortgages as well as finance for those investing through limited company vehicles and houses in multiple occupation.
Over the first quarter limited company and HMO products accounted for 40% of Fleet’s total business with the rest covering individual landlord deals.
Bob Young, chief executive officer of Fleet Mortgages, said: “Our approach, in working with top-quality distributors who have vast experience of the buy-to-let sector, has certainly paid off and we see no reason why we won’t continue to see this type of quality business through the Fleet Mortgages’ system.
“We have been very clear about the proposition and our focus on a number of underserved areas, especially limited companies and HMOs, and the fact these two sub-sectors have accounted for 40% of our volume is very promising
“ It’s our intention to be the go-to lender in these areas and it appears this message is already hitting home. It has been a very promising start to the year and as we broaden our intermediary reach we will also be ramping up our lending activity in the months to come.”