Thursday 16th May 2019
Charter Court has reported a record first quarter with new loan originations of £710m, up from £668m during the corresponding period a year earlier, thanks to strong performances across core buy-to-let, residential and short-term mortgages.
The buy-to-let mortgage specialist grew its loan book 17.9% year-on-year to £6.5bn from £5.5bn in the corresponding period last year, or 28.1% to £7.1bn excluding the impact of structured asset sales in the quarter.
Ian Lonergan, chief executive of Ian Lonergan, which is in the process of a £1.6bn merger with OneSavings Bank, commented: “I am pleased to report another strong quarter as we continued to deliver on our robust mortgage pipeline to generate record first quarter originations while maintaining high asset quality and strong credit performance.
“Despite a challenging macroeconomic and market backdrop, the group completed the sale of its residual interest in two securitisations in January for a pre-tax gain of £30m.”