Fleet Mortgages CEO retires

Bob Young, Managing Director of Fleet Mortgages has announced that he will be retiring in April.

Young and his management team launched Fleet Mortgages, a buy-to-let specialist, in 2014.

He will be replaced by Mike Lane, currently Chief Operating Officer of Fleet. Lane has been with Fleet since 2014 and was part of the management team at their former lender. He has over 30 years of experience in retail and financial companies.

The fleet has grown rapidly since its launch and, at the end of December 2021, had over £2bn of mortgages under management.

Last year it was acquired by Starling Bank in a £50m cash and share deal. Following this, Starling became the sole backer of Fleet creations, with the lender writing over £782m of mortgage business, a 96% year-on-year increase.

During his 45 year career, Young held positions at Black Horse, Abbey National, before joining CHL Mortgages as Director of Sales and Marketing in 1997, before becoming Managing Director in 2004.

Fleet Mortgages offers buy-to-let mortgages exclusively through the mid-channel with products available in three main areas – for individuals, LLCs/LLPs and those looking to finance HMOs and multi-unit blocks .

Young said: “It seems like a good time to announce my retirement and hand over to Mike and the management team to build on what we have all achieved over the past seven years or so.

“It will no doubt be business as usual at Fleet under Mike’s leadership. With Starling’s support behind us, the future looks incredibly bright.

“Given our acquisition by Starling last year, it feels like Fleet is entering its next phase. The first phase of Fleet’s development was to start a new lender, establish our credibility and build a business at that our channel partners and their customers could trust.

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