Lender reports best month for new applications, offers, and loan completions
Specialist buy-to-let lender Quantum Mortgages marked its second anniversary by setting new performance records last month.
The lender had its best month for new applications, offers, and loan completions, while achieving record revenue and profit figures too.
Launched initially for a select group of intermediaries in March 2022 and fully operational from May 2022, Quantum Mortgages has witnessed a surge in mortgage applications, surpassing the £650 million mark. The company has expanded its team from two to 37 employees and is preparing for its first securitisation in the upcoming summer.
The lender has extended its distribution partnerships to include nearly all major mortgage clubs and packagers in the UK.
Over its first two years, Quantum Mortgages has received multiple accolades, including Buy-to-Let Lender of the Year at the 2023 Mortgage Introducer Awards and Top Mortgage Employer.
Jason Neale (pictured), managing director at Quantum Mortgages, reflected on the company’s journey, noting the challenges it faced shortly after launch.
“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 today’s 5.25%,” he said. “Then of course, there was the disastrous Truss and Kwarteng 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, and always gave plenty of notice if rates needed to change, during a period where many of the larger lender’s behaviour was really poor.
“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.”
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