The business, which is part of VAS Group, provided real-time auditing and assurance work totalling £60m while re-examining existing reports and loan book reviews equalling £90m for short-term and term lenders as well as valuation firms.

The previous record was £100m worth of valuations which was realised in November 2020.

Daniel Owen-Parr (pictured), managing director of VAS Audit, said: “The demand for our services has grown exponentially over the last 12 months, with many lenders looking for a second opinion on current applications as well as examining the current value of their loan books.

“While this initial uplift can be traced back to the UK outbreak of COVID-19 and the requirement for a level of certainty, the quality, professionalism and service we provide has seen many one-off requests turn into full-time contracts.”