Openwork targets £10bn of lending as it adds Fleet to panel

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Openwork has added Fleet Mortgages to its lender panel and has revealed it wants to write more than £10bn of business this year.

The network wrote £9.1bn of business in 2015 and said volumes are up 48 per cent year-on-year so far in 2016.

Openwork mortgage proposition director Paul Shearman says: “We are delighted to be adding Fleet Mortgages to our panel of mortgage lenders. With so many changes affecting the buy-to-let market it’s important that lenders and distributors work together to give their customers access to products that meet their changing needs.

“The addition of Fleet Mortgages will give our advisers access to a lender with strong knowledge of the specialist buy-to-let market and a particular focus on Limited Company lending, and lending to landlords with houses in multiple occupation and multi-unit blocks.”

Fleet Mortgages chief executive Bob Young says: “Now that some of the dust has settled from an incredibly busy period for Fleet Mortgages over the last few months, we are looking to bolster our distribution panel with a number of key additions. First up is Openwork which has a strong reputation and long history in the financial advice marketplace; up until now its AR firms have been able to access our products via our packager relationships, but with this announcement they can now submit business direct to us.

“The buy-to-let market will continue to shift with the external interventions placed upon at, however at the heart of the matter is the continuing, and growing, need for a strong private rental sector. This will not change and we believe that demand from landlords for buy-to-let finance will remain strong – it’s our intention to offer specialist products and support to advisers and to continue to develop our proposition to be a leader in this sector.”