Fleet Mortgages has announced that its chief executive officer, Bob Young, is to retire in April following a career in lending spanning more than 25 years.
Young and his management team launched Fleet Mortgages in 2014 and in just over seven years have built the specialist lender to the point where it has advanced £3.33bn in mortgages across 15,141 accounts.
At the end of December 2021, the lender had over £2bn in mortgages under management.
Young will be replaced by Mike Lane as Fleet’s new CEO. Lane is currently chief operating officer and has also been with Fleet since November 2014, having also been part of the senior management team at their previous lender.
Fleet offers buy-to-let mortgages exclusively through the intermediary channel with products available in three core areas – for individuals, limited companies, and those seeking to finance HMO and multi-unit blocks. In the summer of 2021, Fleet also became the first lender to be fully acquired by Starling Bank in a £50m cash and share deal.
Young commented: “All good things come to an end, and this seems the right time to announce my retirement and to hand over to Mike and the management team to build on what we’ve all achieved over the last seven or so years. It has been some journey.
“It will undoubtedly be business as usual at Fleet under Mike’s leadership and with, what I believe, is the best senior management team in the market. With the support of Starling behind us, the future looks incredibly bright.”
He added: “Lending has been my working life for over 25 years and with Fleet in the safest of hands, I am looking forward to enjoying a long and happy retirement knowing full well this is a business which will go on to bigger and better things.”
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