Stonebridge Group has reported a year-on-year increase in mortgage completion cases for the first three months of 2015 of 59%, while the value of those cases were up by 62%.
The mortgage and insurance network said that while overall figures for the first quarter of 2015 this year were very slightly down on the last three months of 2014 – in line with the wider mortgage market – it posted its best month ever in terms of both the number of completed mortgage cases and their value in March this year.
The number of cases in March were 60% up on February and 19% up on January; similarly, the value of those cases were 62% up on February and 23% up on January.
Stonebridge said the results tally with the growing number of AR firms housed within the network and the increased mortgage productivity within those advisory businesses. An independent review of network numbers for 2014 showed Stonebridge had added 51 ARs, an increase of 22% on 2013 – by far the biggest percentage increase of any network active in the UK and the strongest performer in terms of growth over the past three years.
“Once again we are able to show a very significant level of growth in the number and value of mortgages cases completed by our AR firms,” said Richard Adams, managing director of Stonebridge Group.
“It is perhaps no surprise that our mortgage business levels have developed in such a way given the number of new AR firms within the network over the time period, however it is also clear that our ongoing growth is much to do with increased productivity at an individual firm level. Our year-on-year improvement reflects this and we believe it is notable that we have achieved a record month for March given the slight pull-back in activity during January and February.
“We ended 2014 very strongly and, like most of the market, saw a dampening of demand in the first couple of months of 2015 however our March levels would indicate much greater activity is likely going forward, especially once the result of the forthcoming general election is known. We are very positive about business activity during the rest of the year and are actively looking to recruit new AR firms while continuing to provide a very high level of support, and access to business opportunities, for both new and existing members.”