The specialist lending and retail savings group adds in a trading update that its underlying and statutory net loans both rose by 7% in the nine months to the end of September, to £22.4bn and £22.5bn, respectively.  

The business, which also owns several brands including Kent Reliance for intermediaries and Precise Mortgages, says it remains on track to deliver its full-year guidance of around 10% underlying net loan book growth.  

OSB Group chief executive Andy Golding says: “We saw healthy growth in our deposit book as our savers benefitted from our consistently fair savings proposition. Organic mortgage originations increased 53% on the equivalent period in 2021, as we converted our strong pipeline.”  

“Looking ahead, while the outlook for the UK economy and the overall shape and size of the mortgage market is somewhat unclear, the fundamental drivers of demand in the private rented sector remain robust.   

“Our strong capital and liquidity position, secured loan book and proven risk management capabilities, as well as our focus on professional and portfolio landlords, position us well to navigate this challenging period and continue to generate attractive and sustainable returns for shareholders across the cycle.”  

The business adds that its three months-plus arrears balances are unchanged at 1.1% at the end of September from their levels at the end of June.