360 Lifecycle see 22% uplift in lending for Q2

£10.7 billion in total lending was a first for 360 in Q1, now surpassing this for Q2 and reaching over £11.6 billion, achieving £22.3 billion so far for 2022, a 22% uplift versus the previous year.

During the first six months of 2022 over 91,000 mortgages have been written, 14,000 more than the same period in 2021. Over £237 billion pounds of mortgage lending has been facilitated through 360 Lifecycle since 2010, making 360 Lifecycle one of the UK’s biggest platforms in mortgage advice technology.

Q2 has seen a 5% increase in product transfers compared to Q1, making a total of 10,686 so far for the year. As interest rates continue to rise, we should see this figure grow in Q3.

NatWest remains in the top lender spot for 360 Lifecycle with over 11,000 mortgages written this year, Halifax and Santander take second and third place.

L&G and Royal London retain the top spot as largest provider for life & IP policy sales. The platform has also seen a 20% rise in GI sales.

Lender spread percentages remain similar throughout the past 18 months and show 60-80% lending is still the highest mortgage written LTV.

360 Lifecycle has seen a 27% increase in Client Portal users from Q2 2021, totalling over 160,000. Over 147,000 FactFinds have been created in 2022, 24,000 more than Q3 and Q4 in 2021 equating to 1.2 million FactFinds since 2015.

Ozgur Unlu, CEO of 360 Lifecycle said: “It is excellent to see our figures continue to grow as we are over halfway through the year. With the developments we have lined up we are going to have an exciting Q3 and Q4 which will boost these figures so 2022 will be groundbreaking.”

Stephen Cowdell, Head of Intermediary Sales at 360 Lifecycle, said: “With the base interest rate likely to increase to 2.5% by the end of the year, it is likely advisers will be focusing on re-mortgaging and product transfers. This makes the importance of using technology to ensure a streamlined sales process, more important now, than ever before. It is encouraging to see our customers making the most of the tools we offer, and we hope to see more customers adopting our marketing leading technology, to help them to be more efficient when dealing with their customers needs.”