Openwork has reported over £8bn in mortgage completions up to the end of the third quarter of 2016.

This follows a compound annual growth rate of more than 25% in each of the last three years.

The network has welcomed more than 360 new advisers this year. It attributed its growth to a combination of new advisory businesses such as Just Mortgages, the financial advisory business of Spicerhaart, and existing firms expanding their adviser numbers.

Openwork, which now has almost 3,100 advisers across the group,  also added providers including Tesco Bank, Fleet Mortgages, Danske Bank, Kent Reliance and Hodge Lifetime, to its lender panel.

Its mortgage director, John Cupis, said: “It is extremely gratifying that lending has been so strong this year, particularly as it represents a significant uplift on 2015.

“We have a very strong pipeline of new advisers planning to join Openwork which is testament to our stable and supportive environment for firms looking to serve more customers.

“Openwork is growing, is profitable, and is uniquely majority owned by our advisers themselves. With many weeks left before the end of the year, we are optimistic that we will continue to drive strong lending flows and significantly exceed our 2016 target of £10bn.”