Optimum Credit hits £1bn total five years after first loan

CARDIFF-BASED Optimum Credit has hit a total of £1bn in lending five years since it wrote its first loan.

The firm, which recently relocated to new premises in the Capital Quarter, is the UK’s largest second charge mortgage lender and is the only UK provider to offer bespoke pricing to ensure it offers customers the most competitive rates.

Acquired by Australian-owned Pepper Money in 2018, Optimum Credit was established in 2013 by the leadership team and now employs 130 people in its offices in Cardiff.

Commenting on the achievement, Optimum’s chief executive officer, Sam Marshall, said: “This is a fantastic milestone for us and something of which all of us at Optimum Credit are very proud. When we started up the company, we set out to become the biggest second charge lender in the UK, a target we achieved very quickly. Our acquisition by Pepper Money will enable us to continue to grow, and we look forward to further successes in the future.

“Despite some uncertainties in the lending market given the ongoing Brexit discussions, we have found the second charge market to be very buoyant, with a record month of new origination for Optimum in September 2019.”

Optimum’s new 18,500 sq ft offices at 4 Capital Quarter in Cardiff provides room to grow the current headcount of 130 to around 250. This will give the company scope to achieve its expansion plans, both for the existing Optimum second charge mortgage business and the wider Pepper Money strategy across the UK, which includes the launch commercial real estate lending.

Mr Marshall continues: “This £1bn achievement reinforces our growth strategy for the coming years, which includes attracting and retaining some of the best talent from across the UK to work in Wales’ fast-growing financial sector.”