Crystal Mortgages issued terms on £664.3m worth of business in 2014, a 38.7% increase on 2013.

This is the first time in its 36-year trading history that the Walsall-based commercial mortgage, bridging and development firm has surpassed the half-a-billion mark in issued terms.

It also saw a 33% rise in completions against last year.

To realise these figures, Crystal Mortgages issued terms on £204m worth of applications between October to December, up 42.75% on £142.9m in the same period in 2013.

Annual deal highlights included a £5.5m short term loan for a supermarket redevelopment site in the South West, a short term loan for an overseas company purchasing a student block in Leicester for £3m and development finance to assist with the purchase and build on a site worth £11m in Ilford, London.

In addition the company has increased its staff numbers to 19 and has completed business with 24 lenders, representing five new additions to its lending panel.

Joe Breeden (pictured), managing director at Crystal Mortgages, said: “In January 2014 we had to upgrade all forecasts for the year based on a great 2013, and all of these reflected numbers have been effectively blown out of the water by our performance in 2014.

“The increase can be put down to several elements, internally we have strengthened the team significantly and cleared application pathways to ensure more lending requests reach drawdown, plus lender appetite and product availability, from challenger banks in particular, has increased again on last year.

“The business has no intention of resting on its laurels, and over the coming months we will be making a number of key announcements which will strengthen our independent, all-of-market position still further and ensure 2015 sees us again grow significantly.”