The commercial mortgage broker said it had issued terms on business valued at £174.8m between April and June 2014. This figure is an increase on the £93.9m recorded in the same period last year.

Total terms for the first half of the year have now reached £317.8m at the Walsall-based firm.

It said completions across England, Scotland and Wales had increased by 144% in the year-to-date.

During this period the company has used more than 20 lenders and has achieved an average mortgage completion time of 3.5 months from the point of application.

Joe Breeden, managing director at Crystal Mortgages, said the figures showed the alternative market remained strong, despite the return of more mainstream mortgages.

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“We began releasing quarterly figures at the start of 2011 to prove to the commercial market that finance was available through alternative routes, not only has this message been heard loud and clear, these figures prove that the packaging market is being embraced,” he said.

“At our current rate of growth, and with the stream of new products coming to market, we will match our total terms issued in 2013 by the end of quarter three, our completions will continue to rise and the number of lenders we utilise will have increased further.

“Above this we remain true to our independent beliefs whereby all applications will be thoroughly assessed by a professional, with the remit to find the best product to save the customer money.”