OSB Group has reported that its underlying profit before tax has climbed by 16% for the first half of 2022, to a record £294.1m. This compares to £252.8m which the the group reported for H1 last year. The specialist lending and retail savings group was announcing its financial results for the first six months of 2022. Commenting on the figure, the group’s CEO, Andy Golding, said that demand in its core lending segments “remains robust”, while the firm still has a “record pipeline of applications”.

The Right Mortgage and Protection Network has relaunched its accident, sickness and unemployment (ASU) proposition following the pandemic. As part of this proposition, the network has introduced Paymentcare onto its panel. The Right Mortgage has built a new full advice and compliance process that supports advisers to sell ASU and dispel any potential PPI fears. Head of general insurance at the network, Amy Wilson, said that advisers should “seize the opportunity” to re-educate their clients about ASU, adding that the type of policy still has a worthy place within the protection conversation.

360 Dotnet has achieved £11.6bn in total lending for the second quarter of 2022. This was up on the £10.7bn that the fintech software supplier reported for Q1, to take its total lending to £22.3bn for the first half 2022, a 22% increase on H1 last year. 360 Dotnet also reported that during the first six months of this year, over 91,000 mortgages have been written, a figure 14,000 higher than the same period in 2021. The firm stated that Q2 also saw a 5% increase in product transfers compared to Q1, making a total of 10,686 for the year so far. As interest rates continue to rise, 360 Dotnet anticipates this figure to grow again in Q3.

The Mortgage Lender (TML) has confirmed that it has hired two new business development managers (BDMs). Nicola Ashby has joined TML after almost eight years at Coventry Building Society, and her new role will see her focus on building current and forming new relationships with key accounts in the Midlands. Joining TML as BDM for the Home Counties South region, Keith Campsie has almost a decade’s worth of experience in the industry, having previously worked at Pepper Money where he was regional development manager and at TSB as a BDM. He will be focused on working closely with mortgage intermediaries and brokers in the South to help support clients with more complex lending requirements.

Avamore Capital has announced that it has closed two deals worth £1.6m with the same borrower in the space of a week. The property developer had already completed one deal with Avamore and having built a strong relationship with the team, he returned with additional schemes. The first of the two loans was a development loan with a facility of £905,036 for a property in Edmonton. Following the completion of this transaction, Avamore then closed on a further bridge of £702,390 for a separate site in Croydon.

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