Our Executive Management team launched our new brand and updated Residential and initial Buy to Let offering to the intermediary market in 2018 after setting up our business structure, funding partners and distribution network. The executive team had an average of 28 years’ experience each in the intermediated mortgage industry and this extensive experience was fundamental to their ability in setting up and launching The Mortgage Lender.
Our business has continued to grow in 2019, focusing on our proposition of real-life lending, an approach focusing on customer needs based on experience, feedback and our broker partner relationships telling us what they needed to be able to offer. We have added a Help to Buy range as well as Buy to Let mortgages for Ex Pats. This widening of our product proposition allowed us to deliver on market needs to support our brokers in key areas such as the self-employed, credit impaired and specialist landlords.
Delivering our product proposition in both Residential and BTL product ranges to our intermediary partners has been a vital part of our business strategy. To deliver this we have expanded our Business Development approach and increasing our sales team to a headcount of 25 by adding;
- More regional, field-based Business Development managers across the UK,
- Greater capacity in our telephone Business Development team in the Hub,
- More coverage in our National Accounts Team,
- Building a Senior Sales Management team, capable of delivering for our strategic partnerships
We have also supported Specialist Distributors through the growth of our on-site underwriting team with 5 accounts now having their underwriter working alongside their own sales and processing teams.
This expansion and our ongoing commitment to support the intermediary market has helped put us on track for £1bn in new business in 2020.
Our servicing teams have also grown rapidly to cater for this exponential growth in application numbers. They continue to adapt and evolve in line with our broker partner’s needs, with the creation of specialist teams in BTL Portfolio and New Build lending to really support our partners in the areas in more complex or time sensitive arenas where they need the support for a flexible lender which has an appetite for doing right by the broker and customer. Despite record new business levels we are currently within our 48-hour turnaround SLA.
Our product development across both ranges continues to focus on broker and customer need with criteria that supports optionality in key areas, and we continue to monitor, listen and adapt our activity to ensure we are meeting market demand.
In a market which has experienced difficult times previously, this last 18 months has also seen tough trading having an effect on some lenders in the intermediated mortgage industry, so we are proud as punch to have been able to grow a sustainable business, built on strong relationships and with the support of a fully engaged workforce truly passionate about delivering on our proposition of real life lending.