OSB Group holds guidance as loans rise in first quarter
OSB Group
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11:19 28/03/24
Buy-to-let lender OSB Group maintained full-year guidance as loans and advances rose in the first three months of 2021.
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Underlying net loans and advances for the three months through March were up 3% in the three months to March 31 to £19.6bn.
Organic originations of £1.1bn were down from £1.5bn year-on-year on tighter post-Covid criteria, but at 'attractive' margins.
“We entered the second quarter with a robust pipeline of new business and applications in our core buy-to-let and residential sub-segments remain strong,” said chief executive Andy Goldin.
“With the continued successful vaccine roll-out and progressive easing of lockdown restrictions, the outlook for the UK economy has improved, although we remain cognisant of ongoing uncertainty.”