Ryan Bembridge

Ryan Bembridge is senior reporter at Mortgage Introducer

The achievement comes after a period of sustained and steady growth for the lender, which has increased its loan book by 15% a year for each of the last three years.

He has launched the firm alongside Matt Davies, who launched Empire Commercial Finance based in Chester in 2014.

It is understood that Barnard is looking after new business, with Masthaven sales director Richard Deacon taking responsibility for bridging.

The panel, which included Adrian Moloney, sales director at One Savings Bank, parent of Kent Reliance, Alan Cleary, managing director of Precise Mortgages and Rob Jupp, chief executive of Brightstar, seemed lukewarm on the current state of the second charge market.

This is Belmont’s third and largest securitisation, with others happening in April and October last year. The company has now hit a milestone of £1bn of securitised loans.

This means that volumes were 23.1% higher than the same month in 2017 and by value there was a 26.1% increase year-on-year.

The April initial public offering cost the group £3.6m, raising £30m for the company in the process.

The lender has also updated its buy-to-let range, with fixed rates being cut by 020% to 85% LTV and core rates starting at 3.99% for a 2-year fix.

The panel said the benefits of income protection are “hidden behind complex choices and caveats in the small print”.

The lender increased pre-tax profit by 29.2% to £121.7m, up from £94.1m in the first half of last year.