Stonebridge has announced that it recorded £8bn in mortgage completions for 2019, with lending volumes up by 11%.

The mortgage and insurance network also revealed its mortgage application case numbers were up by 5% on the previous year, and up 6% by volume.

Analysing its mortgage business, Stonebridge announced that purchasers made up 49% of its overall mortgage submissions – a figure that had fallen slightly from 50% in 2018 and 55% in 2017 – while the other 51% comprised remortgage or product transfer business. The network added that 20% of its remortgage business was for product transfers.

Stonebridge also said its buy-to-let business had remained steady during 2019 and had stayed at 17% of its overall business submissions, the same figure recorded in 2018.

The network added that its growth, slightly ahead of forecast, reflected ‘continuing progress’ in driving up income per adviser – with this figure outstripping adviser growth. Stonebridge’s data showed a 7.5% growth in adviser numbers over the course of 2019, with the network having 644 individual advisers in 320 AR partner firms at the end of the year.

Stonebridge business partnerships director, Jo Carrasco, commented: “Over the course of 2019 we outperformed the previous 12-month period, saw adviser and firm numbers increase, added new lenders and providers to panel, plus developed our unique Revolution system in a number of areas.

“We have ambitious plans for the future and want to keep developing the Stonebridge proposition, helping our existing members grow their teams, and bring on board new AR firms that will grow and thrive within the network.

“It’s our continued aim to ensure that we provide the best support possible to ensure Stonebridge does all it can to narrow the protection gap.”

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