Quantum Mortgages, focused on the buy-to-let sector, celebrated its second anniversary with record figures in February 2024. The lender reported its best month yet across applications, offers, completions, and financial performance.
Since starting with a select group of intermediaries in March 2022 and fully launching in May 2022, Quantum Mortgages has processed mortgage applications totaling over £650m. The company grew from two employees to thirty-seven and is preparing for its first securitisation in the upcoming summer.
The lender’s distribution network now includes all major UK mortgage clubs and packagers, and all but one major mortgage network. Recognition has come through industry awards, including Buy to Let Lender of the Year and Best Mortgage Employer, alongside numerous nominations for Lender of the Year.
Jason Neale, managing director of Quantum, discussed the company’s growth against a backdrop of economic challenges, including sharp inflation increases and the impact of the Truss & Kwarteng mini-Budget.
Neale said: “We certainly couldn’t have picked a more difficult time to launch a Buy to Let lender. Within weeks of our soft launch, inflation started to rise sharply, resulting in significant swap rate volatility and Bank of England base rate rising from 0.5% to today’s 5.25%. Then of course, there was the disastrous Truss & Kwarteng mini-Budget which effectively shut the sector down for six months. During these turbulent times we continued to stick by our principals of common sense, doing the right thing and helping where we can. We were one of the very few lenders not to withdraw fixed rates, we never once considered not honouring pipeline applications and always gave plenty of notice if rates needed to change, during a period where many of the larger lender’s behaviour was really poor.”
He further credited the company’s success to the support from brokers, packagers, clubs, and networks, thanking them for their partnership and loyalty.
