Just Mortgages reports 59% growth in lending

Just Mortgages has reported that its lending figures increased by 59% to £3.5bn in 2020, with profits up by 20%.

Despite an enforced break due to the coronavirus pandemic, the broker firm’s combined turnover of the self-employed and employed broker divisions increased by 52% to £41m, a figure up from £27m in 2019.

Just Mortgages also recruited over 130 new brokers to take the firm’s total to 455, with support staff also increasing from 45 to 55.

The self-employed team grew by 30% to 300 brokers from 230 at the start of 2020, and this expansion has continued into the first quarter of 2021, with the firm recruiting a further 60 self-employed brokers.

Just Mortgages and Spicerhaart national operations director, John Phillips, commented: “While the stamp duty holiday certainly kickstarted action for some, the desire to move home isn’t solely down to the tax savings. The pandemic forced a lot of people to spend more time at home through lockdown. This extended period drove many people to look for properties with more outside space or an extra bedroom to use as a home office.

“Our exceptional team of brokers did a fantastic job adapting to the changing circumstances last year, and our results are a real testament to their resilience and expertise. 

“Looking ahead, the early signs from 2021 suggest it will be another strong year in the mortgage market, with the first quarter continuing to be extremely busy for our brokers. With the return of 95% LTV products, and demand from buyers incredibly high, we expect this to continue throughout the year.”

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