Pictured: Roger Dewsbery, senior underwriter at Crystal
Mortgages
Crystal Mortgages has continued its record start to 2011 with
the business issuing terms on over £62m worth of business
from April to June, and completed case numbers up a further 15
percent on quarter one.
The figures, which mark the highest number of completions in a
quarter since 2007, also show new business enquiries up a further
five percent with illustrations up three percent.
Other highlights of quarter two also included a 13 day
turnaround on a commercial term loan remortgage, compared to the
industry's 60 day average, and a 25 day property purchase from
application to drawdown of funds.
The Walsall-based independent commercial finance provider
entered the buy-to-let packager market in mid-June, issuing terms
of over £2 million in only 14 days.
During the period January to March, the business issued terms on
over £69m worth of business with completions up 86 percent
based against the same period in 2010.
Roger Dewsbery, senior underwriter at Crystal Mortgages, said:
"The figures are stunning, we are now firmly operating a
pre-recessionary levels in terms of enquiries and drawdown of
funds.
"While terms issued has dropped slightly, the number of
applications is up substantially, so we can categorically state
that more and more businesses are looking at alternative funding
streams outside of those offered by applicants own banks.
"The future trend shows no sign of abating, and we will continue
to launch innovative new products and retain that personal touch,
so applicants know that each financial request is treated with the
individual thoroughness it deserves from a dedicated assessor."