Former building society Bradford & Bingley posted a jump in first-half profits but warned the mortgage market could slow in the coming months.
Pre-tax profits rose to £125.5 million from £119.7 million in the six months to June 30.
The lending business reported a 16 per cent improvement in pre-tax profits at £104.3 million, boosted by a diversified credit profile.
Bradford & Bingley is moving away from first-time buyers in favour of niche lending such as commercial and buy-to-let. But the main growth was in its distribution business, which specialises in selling products from other financial groups.
It saw pre-tax profits jump £10.6 million to £14.7 million and attributed the rise largely to the performance of the Charcol and The MarketPlace brands.
Chief executive Christopher Rodrigues said: "We are well placed to capitalise on the opportunities a changing regulatory environment will present."
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