Pink reports strong growth, including record number of completions

Robyn Hall

August 16, 2016

Toni Smith

 

Pink Home Loans had a bumper start to the year with a record 9,825 mortgage completions hitting the £1.9bn mark – up 32% compared to the first half of 2015.

Pink, part of LSL property services, delivered a strong performance in the first six months of the year, with the volume of applications reaching 11,382 and hitting £2.3bn for the first time – a 23% increase on the same period in 2015.

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Completions were also up year on year, increasing by 32% to 9,825, outperforming the rest of the market, which grew by 23% according to figures from the Council of Mortgage Lenders.

Toni Smith (pictured), sales operations director at Pink, said: “This year has seen the perfect conditions for growth in the intermediary mortgage market with strong customer demand, a good availability of products, and a number of new lenders coming to market.

“During this time, we have maintained our promise to support brokers, and invested in our processes and members. Through these continued commitments the network has retained its market position and gained market share, giving us a strong platform to deliver a memorable performance for the full year.

“Considering the current degree of uncertainty in the mortgage market, it is more important than ever for lenders and brokers to deliver a holistic offering to their customers.

“This should include a range of options to suit varying borrower needs, including remortages, second charge loans and later life lending.

“This approach will help to ensure business remain both agile and robust, and importantly, ensure they are able to adapt as the market evolves and new challenges emerge.”

And she added: “The strong figures produced during this period highlight Pink’s continued progress in the intermediary market, and underscore the company’s commitment to helping intermediaries to consistently meet the needs of their customers.”

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