We noted this week that mortgage applications are now so hot that banks are unable to keep up and approval times are blowing out spectacularly. House prices are on the march too. FOMO is loosed and there is no prospect of higher interest rates for years. So freshly listed Liberty Financial is enjoying an unexpected success, at Banking Day:
Liberty Financial were cautious in their late November prospectus, and at any rate have surpassed key metrics for the December 2020 half year, the non-bank funder’s first report as a listed company.
In a marker of the flexibility at Liberty, at least for now, the lender reported a net interest margin over the first half of 3.07 per cent, up from 2.50 per cent over the first half of the year prior – though the first half NIM is bang on forecast and will decline over the full year.
