Enra Specialist Finance announces record results in Q1
Enra Specialist Finance has revealed its quarterly results for Q1 2021 reporting record results across all areas of the business from broking to lending.
Under the West One lending brand, completions levels rose to £309m in Q1, up 37% on the same quarter last year at £225m. On a consolidated basis, Enra posted a top line revenue of almost £22.6m for Q1, with EBITDA of over £9m for the period.
The business reported January was a slower month but quickly picked up and pipeline applications are looking strong.
As one of the UK’s largest non-bank mortgage lenders, these record results have been achieved without compromising West One’s overall risk appetite and credit policy, which remain tighter than pre pandemic levels. The firms existing loan book continues to perform significantly above industry standard levels.
Enra also saw record performance under its two broking brands – Enterprise Finance and Vantage Finance – with both completions and new enquiries received setting records.
Danny Waters, CEO of Enra Specialist Finance said: “The first quarter of 2021 has seen a stellar performance from all areas of the business, with sales, operations and back-office teams all working extremely hard to deliver for our clients.
“Our businesses have traded strongly throughout the pandemic, with West One, Enterprise and Vantage ever present in the market. This dynamic performance is a consequence of the hard work and commitment during such unprecedented times, and I think we’re now seeing the reward for our consistency over the past twelve months.”
Danny added: “I’d really like to thank our intermediary partners for their support throughout the last 12 months. We remain totally focused on delivering excellent service and compelling products as the foremost non-bank lender in the market.