Strong 2016 growth for Connells Group’s mortgage division

Connells Group's mortgage division recorded significant growth in 2016, the firm has reported.

The Group recorded a 10% rise in the number of mortgages arranged compared to the previous year, generating over £10 billion worth of lending.

Remortgaging was one of the key drivers of growth, increasing by 31% compared to 2015. 

Despite being a tough 12 months for landlords, 2016 saw a 6% annual rise in buy-to-let remortgaging.

Connells' mortgage division recorded first-time buyer lending growth of 19% - which, it says, is due to schemes like Help to Buy and an increase in the number of 95% mortgages available. 

The Group says first-timers are now responsible for over a third of all its mortgage activity, with applications in January 2017 up 21% year-on-year.

Connells says mortgages remain one of its core focuses this year and that is has further investment and expansion planned. 

“We are pleased to report good progress in the division in 2016," says Adrian Scott, Connells Group Mortgage Services director.

"We continue to invest in our business offering our customers a consultant in every branch, boosting our customer support teams and growing our specialist new homes mortgage advice via the Group’s subsidiary The New Homes Group."

"This ensures as many buyers as possible have access to our mortgage advice,” he says.