Simplybiz Mortgages sees market share rise as firm reports ‘strong growth’

The company, which is owned by Fintel, also reported a rise of 3.72 per cent in Simplybiz Mortgages' total lending figures, growing from £22.85bn in 2023 to £23.7bn in 2024.

The firm said this demonstrated an “outperformance of the overall lending market”, which dropped by 0.86 per cent during 2024.

Martin Reynolds, CEO of Simplybiz Mortgages, said: "We're pleased to report such positive performance from Simplybiz Mortgages, especially in the midst of a cautious, but recovering, market.

“The whole team works hard to ensure we listen to feedback from our members and provide solutions that help them deliver the best service to their clients. 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."

Last month, Fintel announced its financial results for the year ended 31 December 2024.

The firm saw core revenue increase to £68.9m for the year, up 22 per cent from 2023. Fintel said this was supported by revenue of £15m from its acquired portfolio.

The company also posted adjusted EBITDA growth of 8.5 per cent to £22.2m.

Fintel CEO, Matt Timmins, also told The Yorkshire Post last month that the company was aiming to become “the Microsoft 365 of financial services”, after the company made a string of acquisitions over recent years.

Mr Timmins, said that the company was hoping to develop a complete platform for financial advisors, adding that many companies within the industry currently use a number of un-linked softwares.

He said: “In our market, the average number of technology solutions a financial advisor uses to give advice to a client is nine. With that many different systems, the process is wholly insufficient

“What we’ve been doing is going out and acquiring the best point systems in the market, and we are integrating those together to create a seamless platform, so advisors can use one piece of software to do what they need to do.

“I think the way to think about it is something like Microsoft 365, where you have Excel, Word and Powerpoint. What we want to do is bring everything together in one environment, like 365, where you’ve got a single identity and can access all the pieces of software together in one go.”

The firm’s latest news comes after Simplybiz announced last month that it had appointed a new CEO.

Tom Hegarty joined the firm having previously served as managing director of M&G Wealth Advice. He also currently chairs the New Talent Alliance, an organisation dedicated to attracting and developing new talent within the financial advice profession.

Speaking at the time of the appointment, Fintel CEO, Matt Timmins, said: "Tom's extensive experience and proven track record make him the ideal person to lead Simplybiz.

"Having worked with Tom for a number of years, I know he has the vision and delivery mindset to build an even greater business than the one we have today.”