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Friday, November 24, 2017

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Charter Court grows loan book by 46.6%

Jordan Williams | 12:47 Monday 6th November 2017

Charter Court Financial Services Group has announced in its Q3 2017 trading update that it has grown its loan book by 46.6% year-on-year.

The parent company of Precise Mortgages, Exact Mortgage Experts and Charter Savings Bank revealed that its loan book had increased to £4.8bn, up from the £3.3bn recorded on 30th September 2016.

New loan originations stood at £700m in Q3 2017 and were up 8.3% year-on-year to £2bn for the nine months to 30th September 2017 (nine months to September 2016: £1.8bn).

Charter Court predicted that gross originations in 2017 would be marginally higher than the 2016 figure.

Customer deposits also increased 34.6% year-on-year to £3.9bn (30th September 2016: £2.9bn).

Ian Lonergan, CEO of Charter Court (pictured above), said: “I am pleased to give a warm welcome to our new shareholders and am delighted to provide Charter Court’s maiden trading update since our successful IPO in September.

“Looking to the year end, we continue to see solid demand for our buy-to-let and specialist residential mortgages, with a strong pipeline leading into the final quarter.

“Our focus on specialist lending, customer service, disciplined underwriting and our solid capital position means we remain well positioned to meet the financial objectives and guidance as set out during our IPO.”

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