Completions up at Crystal Mortgages

Roger Dewsbery of Crystal Mortgages

Crystal Mortgages says it issued terms on over £80 million worth of business between April to June 2012, a 29% increase on the £62 million issued over the same period last year.

Over the quarter the Walsall-based firm also saw an 8% rise in applications, although the average loan size dropped 14% to £227,215 from £263,592.

The largest completion during the period was a £900,000 refinance package for an applicant to raise working capital for a separate business.

For the first six months of the year the company has issued terms on £167 million worth of business, compared to £141 million last year.

“More than ever people are finding it harder to place business with their own banks and they are turning to quality, independent whole-of-market establishments to provide funding, a situation which suits us well,” said Roger Dewsbery (pictured), senior underwriter at Crystal Mortgages.

“One key example is our move into the specialist buy-to-let market, which we entered at a time when most lenders were restricting their products. Since June 2011 we have issued terms on over £25 million worth of applications and the monthly application stream shows no signs of abating.

“This time last year I described our second quarter performance as ‘stunning’, I am running out of superlatives to illustrate our ever-increasing figures.”

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