Bank of Ireland UK announces strong growth in Bespoke mortgage lending for 2021 as it continues to invest in enhanced digital capabilities

24 March 2022

Bank of Ireland UK has today reported a 50% growth in its ‘best in class’ Bespoke mortgage proposition in 2021, with total balances of £0.9 billion at the end of the year, compared to £0.5 billion at the end of 2020.

Bespoke now accounts for 25% of new mortgage business lending, and underlines the Bank’s successful strategy to focus on segments where its propositions and expertise are adding most value to mortgage intermediaries.

2021 mortgage highlights

  • New overall gross mortgage lending of £2.0 billion, reflecting the Bank’s successful focus on niche mortgage segments while improving returns and maintaining lending quality;
  • Continued investment in mortgage platforms to provide improved speed of delivery for customers and brokers, new digital capabilities and greater efficiencies;
  • Simplified intermediary distribution under a single Bank of Ireland brand;
  • Launched new range of ‘Green’ mortgages for energy efficient Buy To Let properties and new build homes under the Bespoke proposition, as part of the Bank’s commitment to sustainability;
  • Supported intermediaries by continuing to offer a full range of mortgages throughout 2021;
  • ‘Best Specialist Lender of the Year’, L&G Mortgage Awards for the Bespoke mortgage proposition; and
  • ‘Financial Sector Innovation of the Year’ FS Tech awards for the Mortgage Online Offer Management Tool.

George Higginson, Director of Northern Ireland, Partnerships & Mortgages, Bank of Ireland UK, said:

“Despite the continued impact of Covid-19 restrictions in 2021, throughout the year we continued to offer a full range of mortgages, giving brokers certainty and consistency in service delivery, leading to enhanced broker relationships. We saw strong growth in our Bespoke mortgage proposition. The positive feedback we received from brokers, together with the external recognition we achieved, shows we are successfully delivering our focused, niche mortgage strategy.

In 2022, we expect another busy year of mortgage activity, with the continued evolution of our Bespoke proposition and the roll-out of new propositions and services, enabled by our investment in enhancing our digital capabilities. We look forward to continue working and strengthening our relationships with brokers right across the UK.”