Fleet Mortgages has announced that it completed £782m of lending during the 2021, posting a pre-tax profit of £6.97m.

The buy-to-let (BTL) specialist lender confirmed that over the course of the year to 31 December 2021, its mortgage origination figures of £782m meant it was 96% up on the previous year’s figure of £400m.

This comes as Fleet contributed to four securitisations during 2021 under the London Wall and Canada Square securitisations programmes, and was fully-acquired by Starling Bank in July last year in a £50m cash and share deal. Starling is now the sole funder of Fleet Mortgages and in September Fleet launched its first product range fully-funded by the bank.

Fleet suggested that its lending figures reflect a focus on professional BTL borrowers, with a quarter of its business coming from portfolio landlords, and 50% originating from limited company borrower applicants.

“We’ve always focused on the quality of our loan book, and the securitisations and the fact we had no credit losses again, shows that we are continuing to excel in this area,” said Fleet’s CEO, Bob Young. “One of the reasons behind the Starling deal was due to our risk and underwriting standards, and this continues to be a real focus for Fleet as we grow our lending volumes.

“Fleet has entered 2022 with a very strong pipeline of business, and – with the support of Starling – we continue to focus on growing the proposition and operation, recruiting quality staff and pursuing our lending ambitions for the year ahead.

“We believe 2022 is going to be another positive year for the BTL sector and are looking forward to playing a full part in the intermediary lending space.”

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