The mortgage and insurance network said its member firms and their advisers placed over 5,500 cases during the month.
What’s more, Stonebridge said its purchase/remortgage mix had now returned to a more typical split but with a predictable dominance of purchase cases which accounted for 58% of applications received in July.
This came as its adviser recruitment also increased, with 22 new advisers joining in July driving the total headcount to 709.
Rob Clifford, chief executive of Stonebridge, said it had experienced a strong June followed by record lending applications in July despite having been through an ‘incredibly challenging” time.
“August is also looking positive,” he said, “and the post-lockdown enthusiasm plus stamp duty changes are clearly creating increased demand for advice which our AR firms are well-placed to take advantage of, with the strong level of support we provide as their network.
“Throughout the year, despite the pandemic, we’ve seen a growing demand for the Stonebridge proposition from other advisory firms, which has boosted our recruitment, but it’s also clear that our existing members also want to grow their businesses in order to meet the greater demand, and our recruitment team are highly experienced at helping to make this happen.
“By the 1st August we had been able to bring all furloughed roles back to the business, meaning we are now working again at the full complement of staff.”
The network also gave an update on its operational status with Stonebridge and Revolution – its wholly-owned trading platform – now having a full complement of staff after those employees who were placed on furlough, returned to work on 1 August. No redundancies have been made in any of the Stonebridge group businesses.
