Mortgages plc lending activity 92% up

Mortgages plc, the UK residential lender and wholly owned subsidiary of Merrill Lynch, has increased the volume of lending written via the Regulatory Alliance of Mortgage Packagers by 92% over the past 12 months.

RAMP, which represents some of the largest branded mortgage arrangers and packagers in the UK, has confirmed its own level of completions has increased by 25% over the past year and it is on track to complete more than 3bn of non-standard business this year.

Peter Beaumont, sales & marketing director at Mortgages plc, says: “Were delighted with the way our business relationship has developed with RAMP members. We have been able to work effectively together to boost business levels at a time when the mortgage market has experienced a period of slowdown. I have no doubt we will be able to continue this trend over the coming months.”

John Rice, managing director of RAMP, adds: “Mortgages plc has become a key lender as far as RAMP members are concerned. The company has a highly competitive product range and has been able to provide a consistently high quality service.

“Its recent affordability product launch is a highly innovative development and one that we applaud. This is just the sort of productive working relationship we are seeking to establish on behalf of our members.”