Openwork targets £10bn of mortgage lending in 2016

Openwork is expecting to surpass £10bn of mortgage lending this year after posting its best annual lending figures since 2009.

We saw mortgage lending soar to £9.1bn in 2015 from £7.4bn in 2014, an increase of 23%. This represents its best lending performance for six years.

We expect to surpass £10bn of lending in 2016, partly through organic growth and partly through Just Mortgages, the financial advisory business of Spicerhaart, which is joining the network from L&G next month. Just Mortgages, which will become our largest mortgage-focused AR firm with 130 advisers, currently serves Spicerhaart clients across estate agencies including haart, Darlows, Felicity J Lord, Haybrook and Chewton Rose.

Paul Shearman, our Mortgage and Protection Proposition Director, says: “2015 was a fantastic year for mortgage lending at Openwork and our best annual performance since the crash. To have exceeded £9bn of lending – a substantial year-on-year uplift – is a significant achievement and testament to both our advisers and the quality of our market-leading proposition.

“With this year shaping up to be an even better one, particularly with Just Mortgages about to join the network, we fully expect to have surpassed £10bn of lending by the end of 2016.”

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