OneSavings Bank grows loan book by £460m in Q1

The challenger bank upped new lending from £204m a year ago to £329m.

Kent Reliance parent OneSavings Bank grew its loan book by £460m in the first quarter of 2016.

The challenger bank upped new lending from £204m a year ago to £329m.

The bank said the growth was accelerated by the acquisitions of first and second charge residential mortgage portfolios worth £131m.

Andy Golding, chief executive of OneSavings Bank, said: “As expected, March was a record month as we fulfilled heightened demand to accelerate mortgage completions ahead of stamp duty changes.

“Intermediary focus has now returned to new applications and we are confident in achieving our full year growth targets.

“We remain confident in the outlook for 2016.”

OneSavings Bank parents Kent Reliance, InterBay Commercial, Prestige Finance and Heritable Development Finance.