West Yorkshire-based bank Bradford & Bingley has announced a record year with new lending up by 31 per cent to £11.5 billion.
The bank, which specialises in high-risk mortgage lending such as buy-to-let and self-certification, also announced an eight per cent increase in profit to £336.1 million compared to £310.1 million in 2005.
However the bank was hit hard by an £89.4 million charge to cover compensation for mis-selling endowment and investment products.
Bradford & Bingley has attributed rapid growth in "the specialist markets in which we compete" as a major factor for its increasing profits.
A statement from the bank said: "The buy-to-let market is supported by good tenant demand and steadily rising rents, both of which are driven by an increasingly mobile and fragmented population.
"Landlords wishing to participate in the investment property market also continue to show a keen interest. We grew buy-to-let balances by 20 per cent year-on-year."
Commenting on the results group chief executive Steven Crawshaw said: "Bradford & Bingley has had a very good year, with best-ever lending volumes, stable credit quality, strong savings performance, and good profit growth.
"We had a record year-end pipeline and, based on trading so far, expect to continue our strong performance in 2007," Mr Crawshaw added.
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