Bluestone wrote over £450m of loans in the financial year – a 54% increase compared to the previous financial year. The specialist lender saw applications increase by more than 94% during the same period.

Steve Seal, chief executive at Bluestone Mortgages, said: “To deliver record profits during this period is testament to our team’s ongoing commitment to support those disenfranchised from mainstream lenders.

“We have invested significantly in our team throughout this financial year, which has resulted in the business growing rapidly with overall headcount increasing by 40% since June 2020. We have also continued to prioritise our support services to ensure our underwriters and broker network are best equipped to cater to both existing and new customers.

“Looking ahead, we recognise that the pandemic will continue to have a huge impact on people across all walks of life. With furlough and various support schemes now closed, there will be a growing number of people with complex financial situations.

“Following our successful year, we are well positioned to support these people and demonstrate that Bluestone is the leading specialist lender to make the homeownership dream a reality.”