Specialist BTL and commercial mortgage business grow by over 30%
Specialist packager Envelop has reported a substantial growth in the amount of longer-term specialist business written over the past 12 months.
During this trading period, the packager has noted a 37% increase in specialist buy-to-let business, a 31% rise in commercial mortgages, and an 18% growth in secured loans.
Within the specialist BTL business, a high number of applications have emerged from first-time buyers or landlords and for houses in multiple occupations (HMOs).
Envelop, which celebrates the first anniversary of its rebrand from First 4 Bridging or F4B, has also remained active in the bridging and development finance sectors over this period.
“The specialist mortgage market has dominated purchase and refinancing activity so far in 2023, and it comes as no surprise to see such an uplift in those longer-term specialist products,” commented Donna Wells (pictured), managing director at Envelop.
“A turbulent economic climate has resulted in a variety of borrowing scenarios becoming even more complex and mainstream lenders continue to demonstrate that they don’t have the risk appetite, capacity and/or inclination to meet these changing needs.”
Wells said these growing business volumes demonstrated just how vital it was for brokers to be comfortable advising on many differing, and often multifaceted, forms of finance or, at the very least, have a trusted packaging partner in place to deliver the solutions which can make a real difference.
“The past 12 months have seen our core introducers fully embrace the new brand, and it has also worked to attract many new intermediary partners who had not worked with us before but who have swiftly become a regular fixture,” she added. “Our goal for the next year is to build on this momentum and deliver some ambitious growth targets that we have in place for the business.”
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