The Cheadle-based business said lending in the second half of the financial year to 30 June 2021 was up almost 131% on the first half.

It says average monthly originations jumped from £59m in the first half of the year to £136.2m in the second half, hitting £190.3m in June – the group’s highest monthly lending since the start of the first lockdown last March.

Like much of the industry, the group benefited from the introduction of last July’s stamp duty holiday by Chancellor Rishi Sunak that revived the housing market, which had stalled following lockdown restrictions.

The firm says it receiving annual cash receipts of £1.7bn over the year, taking its overall loan book to £4bn.

Together group chief executive designate Gerald Grimes says: “At the start of our financial year the UK was still in its first lockdown, the property market was only just reopening, millions were furloughed, millions more deferring their mortgage payments and development activity had all but ceased.

“Against this backdrop, we have continued to increase our lending levels during the year.

“It has taken common sense, logic, a calm approach and decisive actions to navigate through this unprecedented time and these results are a testament to the extraordinary efforts of our colleagues over the last 12 months.”

Grimes says the business added “significant additional scale and depth” by raising or refinancing over £1.3bn in five transactions during its financial year.

This included issuing £500m of senior secured notes in January, and the first small balance commercial real estate mortgage backed securitisation in the UK since the global financial crisis in March.

This month, in its new financial year, the group has refinanced its £525m HABS warehouse facility and launched its first-ever public securitisation backed only by first charge residential mortgages.

The additional funding leaves the group with over £1.4bn of pro forma funding headroom.

Grimes adds: “While the economy is performing much better than expected and is forecast to grow strongly, we expect that following government Covid-19 support schemes being withdrawn and increased changes in employment status many people may find themselves in a different position to how they entered the pandemic.

“With robust levels of capital and liquidity, Together is well placed to help increasing numbers of customers to realise their ambitions and to play our part in supporting the UK’s economic recovery.”