Stonebridge Mortgage Solutions, the directly authorised (DA) arm of Stonebridge Group, has outlined a sharp rise in the value and number of monthly completion cases for July 2013.
Both monthly completions by number of cases and value of mortgages for July show an increase of over 13% on June 2013 figures. The monthly year-on-year improvement, compared to July 2012, is even greater with the number of cases completed up by 71% and the value of mortgages improved by 84%.
Year to date figures for 2013 show a similar level of improvement over the past two years. The number of cases completed so far this year is more than 55% up on the first seven months of 2012 and 79% up on the same timeframe in 2011.
The major improvement in both the number of cases completed and their mortgage value began in March this year and figures for July are close to a doubling of those recorded in January.
Stonebridge puts the improvement down to a number of factors notably an increase in the number of advisers within the business and an improvement in adviser’s productivity.
Richard Adams, Managing Director of Stonebridge Group, said: “Our figures for Stonebridge Mortgage Solutions in the past few months have been steadily improving however July was by far and away our best month for both case numbers and mortgage value for many a year. Certainly when comparing 2013 with the past two years we can see a major improvement in business completion levels and this is not just down to better mortgage market conditions but also the fact our attractive proposition, particularly the fact we do not charge monthly fees, has drawn significant numbers of quality advisers to us from other networks. This is clearly positive news for the business and we anticipate our figures for the rest of 2013 will show a continued upward progression.
“Looking at our past performance over 2011 and 2012 we can see our best completion months tend to be towards the end of the year, in particular the lead-up to Christmas as purchasers and movers want to be in their new homes before the holiday season gets underway. We therefore expect a strong showing throughout the rest of 2013 and believe there is much to be positive about over the coming months.”
