OSB Group holds guidance as loans rise in first quarter

Buy-to-let lender OSB Group maintained full-year guidance as loans and advances rose in the first three months of 2021.

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.”