OSB lifts loan book outlook on higher rates, mortgage demand

Buy-to-let lender OSB Group lifted its full-year outlook for underlying net loan book growth on Wednesday as interest rates and mortgage loan demand both rose.

The bank hiked its outlook to 7% from about 5% as it reported a 3% increase in underlying net loans and advances for the first quarter to £24.2bn.

"Whilst we remain mindful of the uncertain macroeconomic outlook, the growth so far this year and the current level of demand enable us to increase our full year guidance for underlying net loan book growth," said chief executive Andy Golding.

Reporting by Frank Prenesti for Sharecast.com