In the bridging area of the business, the group originated £77m of business during the first six months of the year, a 14% rise on the same period in 2021, bringing its gross bridging loan book to £83.8m.

So far this year, the lender has made a number of enhancements to its bridging offering and relaunched and rebranded its refurbishment product criteria.

InterBay, OSB’s commercial lending brand, has also seen increased interest thanks partly to the launch of its new product range.

Its originations grew to £72m, up from £20.3m in H1 2021, and its gross loan book now stands at £789.5m.

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The weighted average LTV across these loans was 65%, with an average loan size of £375,000, a slight drop on H2 2021’s 69% and £380,000. 

The lender’s gross BTL loan book grew to almost £9.1bn at the end of June 2022, a 3% uptick on December 2021, which the group largely attributes to strong refinance activity.

The weighted average LTV of the BTL book was reported at 63%, down one percentage point on H2 2021, with the average loan size holding steady at £250,000.

Andy Golding, CEO at OSB Group (pictured above), commented: “I am delighted with the excellent results delivered by OSB Group in the first six months of 2022, demonstrating the strength of our strategy and business model.

Highlights of OSB Group's results for H1 2022

“We grew our lending at attractive margins and the strong credit performance of our borrowers was evidence of our underwriting expertise and rigorous application of our lending criteria.

“The strong foundations of our business with its secured balance sheet, strong capital position and proven operational resilience position us well to respond to opportunities and challenges as they arise.”