Excellent breakdown! Thank you!
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A lot of these loans will last a decade. Lots of time for Starling to grow its loan book in that period (while collecting Ā£60m a year in low risk revenue to expand etc.)
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I think it goes back further, to their decision not to develop a business account and go for the funding that Starling got. I suspect they didnāt participate in the government backed lending schemes because the business account wasnāt developed enough at the time/didnāt have enough staff working on that aspect of the business.
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Itās almost a perfect case study of how diversifying can help protect you in a crisis. I think any exec could learn something from this one.
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@TheoGibson thanks for the breakdown and hope you continue to do so as I find these interesting and good highlights.
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Seeing this over in the Revolut thread made me wonder: does Starling still offer interest on positive balances?
Extract from the AltFi item
The fintech (Revolut) is offering 0.15 per cent interest on cash up to Ā£85,000, a hair higher than its closest competitors Monzo and Starling which offer rates of 0.10 per cent (on Monzoās easy access pot) and 0.05 per cent (on Starlingās current account) respectively.
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I made 5p last month 
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Nobody can deny how incredible Starling have done. This is what happens when you have a solid plan you donāt deviate from and have an experienced CEO who knows what it takes to thrive in an extremely competitive and difficult industry.
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This topic is temporarily closed for at least 4 hours due to a large number of community flags.
This topic was automatically opened after 16 hours.
Interesting interpretation. My observation was:
Starling is doing well
Monzo staff who has expertise in the area of lending gives a breakdown with further insight into the numbers
A couple oversensitive Starling users on this forum that seem to have some sort of inferiority complex make unfounded accusations even though Monzo staff member made no criticism of Starling
The rest of us cry inside and understand why Monzo staff are hesitant to engage with forum
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I have no idea what happened yesterday, but I donāt think starting another argument about what happened yesterday is the best thing to doā¦
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This topic is temporarily closed for at least 4 hours due to a large number of community flags.
This topic was automatically opened after 20 hours.
So I had a few days off to adventure around the UK and enjoy the sunshine. (Note to self not to do that again 
)
Iāve taken a look at the interactions here and Iāve removed some of the off topic comments and ābickeringā as it really soured the discussion.
Iāll message back those who have contacted me on the back of whatās happened over the past few days here but I would highlight calling out what you believe to be a breach of the Code of Conduct is done by the flagging feature or by reaching out to myself via DM. Making posts about it donāt really help the situation and remove focus from the OP/General theme of the Topic.
For clarity, itās not Monzo vs Starling and on my journey in Monzo it never has been 
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https://www.ft.com/content/7f125086-1c30-40d0-84e4-a3ca23eb9f0a
Starlings first acquisition for a mortgage lender.
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Thatās definitely surprised me. Iām not sure whether Starling have a long term view here to offer mortgages or just reap the benefits of being the sole lender for these mortgages now but itās definitely an interesting move.
I thought they may have acquired a credit card lender or something to set them off in that direction.
Interesting starting angle too, considering the passion people have against buy to let.
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For those who donāt wish to give the FT their click, Starling have acquired Fleet Mortgages for Ā£50M.
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