The owner of Precise Mortgages and Charter Savings Bank has published its results for the third quarter of 2015.
Charter Court Financial Services revealed that it passed through £2.5 billion of mortgage completions to the end of October 2015, helping over 14,500 buy-to-let landlords and home owners.
Its new mortgage lending in 2015 is forecast to grow to around £1.5 billion, an increase of 114% vs. 2014.
Buy-to-let lending represents the largest sector, accounting for approximately 62% of Charter Court’s total lending. The remaining 38% of lending includes residential home owners.
Charter Court said it has eight mortgage loans where there are three or more payments in arrears – this equates to an arrears rate of 0.07%, compared to the CML mortgage industry average arrears rate of 1.19%.
Ian Lonergan, CEO of Charter Court Financial Services Limited, said: “Passing £2.5bn in cumulative lending and attracting £1.4bn of savings balances is a major milestone for the business. Along with other challenger banks of a similar scale, we are bringing a new level of choice and service to customers.
“Our loan performance and service levels remain very strong due to the investment the business has made in excellent people and a scalable infrastructure.”
