Tuesday 25 Oct 2016
Crystal Specialist Finance (CSF) has surpassed the half-a-billion issued terms mark in successive quarters having agreed £503.1m in applications from July to September.
The latest figure, which is just shy of £509.7m worth of business issued from April to June, marks an 81% increase on the same period in 2015.
In addition, September saw a record number of completions for CSF, and the business was selected as preferred specialist distributor partner for the commercial and bridging markets for one of the UK’s leading independent mortgage and general insurance networks, HLPartnership (HLP).
The achievement comes despite the average loan application being 2% lower than the same quarter in 2015, which the business associates to the recent financial regulation changes and the EU Referendum result, all of which brought uncertainty to the market.
Jo Breeden, Managing Director of CSF said: “There has been several well-documented legislative factors which has made this year, and indeed the last quarter, a very challenging trading environment.
“After the Mortgage Credit Directive (MCD), Stamp Duty Land Tax (SDLT) and the EU Referendum there was a visible, albeit small drop-off in demand but each time this quickly recovered and is reflected in our excellent performance.
“A large swathe of credit must go to the team who focused on an educational marketing drive to ensure brokers understood the changes and how it affected them and their customers, and this coupled with our reputation for service and delivery is cementing our position as the market’s specialist distributor of choice.”