South Wales specialist finance packager Chaseblue has received notification from the Financial Conduct Authority (FCA) that it has been fully authorised ahead of the implementation of the Mortgage Credit Directive (MCD) in March 2016.
Chaseblue is a packager of second charge, bridging and commercial loans and employs 16 people at its HQ in Barry, South Wales. It has been a part of the Y3S Group since Dec 15.
Its managing director, Ben Gillespie (pictured), said: “This is the icing on the cake at the end of an excellent year for Chasuble. It took a mammoth investment in time and energy constructing our application and was without doubt the most difficult loop we’ve ever had to jump through as a business, but we have done it and it feels great.
“We’ve been focussing our processes and systems towards the new rules for some time now, so the team are very much looking forward to driving the business forward under the new regime in 2016 and beyond.”