Fintel's Simplybiz lifts 2024 lending 4%, grows market share to 4.7%

Fintel PLC on Wednesday said its mortgage distribution arm Simplybiz Mortgages reported growth in both lending volumes and market share for 2024, bucking a broader market downturn.

The firm, part of Fintel subsidiary Simplybiz, said total lending rose 3.7% to £23.7 billion in 2024 from £22.85 billion a year earlier. This outpaced the overall lending market, which contracted by 0.9% over the same period.

Market share also improved, climbing to 4.7% from 4.5% in 2023.

Martin Reynolds, chief executive officer of Simplybiz Mortgages, said the growth reflects the group’s strong positioning despite cautious market conditions.

‘This year-on-year growth is indicative of our position at the forefront of the sector, and our objective of delivering better financial outcomes to all,’ Reynolds said.

Shares in Fintel were down 1.4% at 218.00 pence each in London on Wednesday afternoon.

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