Gatehouse Bank achieved a 40% growth in its home finance portfolio in 2021 as it doubled its pre-tax profits to £3.6m.
The Bank’s latest results revealed that its home finance offering for UK residents, UK expat and international owner-occupiers and landlords totalled £762m during the year.
The surge was fuelled by a record number of home finance originations and the launch of a series of higher finance to value products to assist home buyers with smaller deposits, as well as first-time buyers.
Charles Haresnape, CEO of Gatehouse Bank, said: “In a year characterised by the ongoing challenge of the global pandemic, Gatehouse made strong progress, with the expansion of service lines translating to growth of our customer base and the achievement of a profitable return for the second year in a row.
“Product innovation was a key driver of growth in 2021 – with the introduction of our award winning Woodland Saver on the savings side of the business, as well as a series of higher finance to value products, resulting in us welcoming a record number of new home finance customers to the bank.”
