Shawbrook Bank has boosted its underwriting and lending function in the run up to the end of the stamp duty holiday.

The lender has added 20 posts — 12 underwriters and eight completion officers — to its property finance division to bolster its buy-to-Let, commercial investment, bridging and second charge lending teams.

It says: “This will ensure that Shawbrook is well-equipped to handle increasing demand from a buoyant market, and in the lead up to the stamp duty cut-off.”

The industry faces a large number of mortgage applications as customers rush to complete purchases before the stamp duty holiday ends on 31 March.

Stamp duty transactions in the last quarter of last year were 43 per cent higher than in the third quarter of 2020, according to HMRC data released this month.

Shawbrook head of sales for its property finance division Gavin Seaholme says: “We’re proud to have supported the market throughout the challenges of the past 12 months, working with brokers to find solutions for clients in the most complex of situations. The announcement today that we are increasing the capacity within our lending team is just one way that solidifies our commitment to the market for the long term.”

Seaholme adds: “We’ve strengthened the team with 20 highly skilled people to further enhance our proposition, and I look forward to the swift impact this will have on service level agreements.”

Earlier this month, three-quarters of brokers said the stamp holiday should be extended, in Shawbrook’s December 2020 Broker Barometer survey. Several other housing bodies have also called for an extension.

Shawbrook acquired rival The Mortgage Lender for an undisclosed sum last month.