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New loans record for Charter Court

By John Corser | Business | Published:

Buy-to-let mortgage specialists Charter Court Financial Services Group achieved a record level of new loans in the first three months of this year.

Charter Court Financial Services is based at Broadlands, Wolverhampton

It was up from £668 in the first quarter of 2018 to £710m.

Wolverhampton-based Charter Court is in the process of a £1.6 billion merger with OneSavings Bank.

Charter Court's loan book was up 17.9 per cent year-on-year to £6.5bn for the the January to March period.

Customer deposits were also up 29.7 per cent on the year to £5.6bn

Chief executive Ian Lonergan said: “I am pleased to report another strong quarter as we continued to deliver on our robust mortgage pipeline to generate record first quarter originations while maintaining high asset quality and strong credit performance.

"Despite a challenging macroeconomic and market backdrop, the group completed the sale of its residual interest in two securitisations in January for a pre-tax gain of £30m.".

Mr Lonergan said the performance in the first quarter continued to reflect the resilience of the group's lending operations and demonstrated its ability to structure and execute complex transactions, even in difficult market conditions.

Charter Court, founded in 2008, is one of the UK’s leading specialist challenger banks and operates through three brands – Precise Mortgages, Exact Mortgage Experts and Charter Savings Bank providing buy to let and specialist residential mortgages; mortgage servicing, administration and credit consultancy; and retail savings products.

John Corser

By John Corser
Business Reporter - @JohnCorser_Star

Express & Star Business Editor at head office, Wolverhampton. Welcomes all news of companies and business organisations.

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