Specialist BTL lender Quantum Mortgages has seen record levels of new applications, offers made and loan completions in February 2024, coinciding with the business’ second anniversary.
The lender has also registered record revenue and profit numbers during the same month.
Since its initial launch with a select number of intermediaries in March 2022 — followed by the full launch in May 2022 — Quantum Mortgages have seen mortgage applications soar past the £650m mark, has secured distribution partnerships with all major mortgage clubs and packagers in the UK, and has boosted its headcount increase from two to 37.
The business is now planning for its first securitisation in the summer.
Reflecting on the lender’s first two years of lending, Jason Neale, managing director at Quantum Mortgages (pictured above), said: “We certainly couldn’t have picked a more difficult time to launch a BTL lender — within weeks of our soft launch, inflation started to rise sharply, resulting in significant swap rate volatility and Bank of England base rate rising from 0.5% to todays 5.25%. Then of course, there was the disastrous mini-Budget which effectively shut the sector down for six months.
“During these turbulent times we continued to stick by our principals of common sense, doing the right thing and helping where we can; we were one of the very few lenders not to withdraw fixed rates, we never once considered not honouring pipeline applications and always gave plenty of notice if rates needed to change.
“We believe our valued intermediary friends and partners appreciate how we conduct ourselves and recognise that while we’re not perfect, we always try to provide fair and common-sense solutions for them and their clients.
“As well as our amazing team, our success is down to the loyal and incredible support we have enjoyed from our brokers, packagers, clubs, and network partners, to whom we say a huge thank you.”
