The network added that its volume of lending via applications also lifted 24% in 2021 compared to the year before, as the industry surged on the back of last year’s stamp duty holiday.

Stonebridge business partnerships director Jo Carrasco told brokers that 55% of its applications were for purchases, up from 48%, with 15% of all applications being for buy-to-let and 20% for product transfer, at its national conference held at the Hilton Birmingham Metropole on March 21.

She added that so far this year application lending volumes are up by 26% with February being a record month for the network, with £1.35bn of mortgage applications submitted.

The business said in 2021 its volume of lending lifted by 33% on the previous year, while the completed case numbers jumped by 27%.

It added that 2021 was also a “strong year” for its protection and general insurance business.

In the protection sector, application value in commission terms was up by 27%, with completion value up by 36%. For general insurance, the application value in commission terms was up by 29% on the previous year, and completion value up by 38%.

The network also said that the business had doubled in size over the course of the last five years to almost 1,000 registered individuals, adding that the number of advisers in the network continues to rise.

Stonebridge Rob Clifford chief executive said: “Despite all the upheaval of the pandemic, 2021 was a very strong year for the overall mortgage market, fuelled by a growing demand to purchase and invest in home renovations.

“Our figures for last year, and already in 2022, show this strong consumer demand is being maintained and while purchase activity may not reach the heights of last year, we are seeing growth in remortgage business, especially in light of recent increases to bank base rate and consumer interest in grabbing an attractive rate.”