October 2002 saw specialist lender igroup break through the £300 million new lending figure for the first time in its short but highly successful history.
Jonathan Sadler, igroup's director of sales and marketing, says: “This is a fantastic result for the team. Since we launched igroup in April 2000, we have seen the business grow month-on-month – and especially since our acquisition by GE last year.
“We continue to attract a satisfying mix of business from across the niche lending spectrum, but to lend comfortably in excess of £300 million in a single month is a particularly significant milestone for the business - and one rarely matched elsewhere in the specialist sector.
“I would like to pay tribute to the hard work put in by the whole igroup team to make this possible. I also want to express my sincere thanks to our introducers for their great support and continuing enthusiasm for our products. It's the partnership between us that makes it work.”
Peter Brennan, recently appointed chief operating officer with overall responsibility for igroup's mortgage processing operations, says: “This is a good time for the specialist lending market. And lenders and introducers alike have worked hard to deliver products and services that have widespread and growing appeal.
“Servicing this continuing demand is a challenge we all face, particularly in the run up to a new regulatory regime. But with the support of a committed and skilled team, I'm confident we will continue to thrive in this hugely competitive, dynamic and thoroughly exciting market.”