Masthaven Secured Loans (MSL) has signed an agreement with Royal Bank of Scotland (RBS), which makes available additional funding.
The secured loan lender is looking to expand its lending further in 2015.
Andrew Bloom, Masthaven’s managing director, claimed that the new facility with RBS was testament to the quality of business that Masthaven is writing.
He said: “We are delighted with the confidence being shown in us by RBS. It demonstrates RBS’s commitment to the secured loan market and their belief in the Masthaven Secured Loan proposition. We are keen to expand our penetration in the secured loan market and this is a welcome boost.”
Jon Sturgess, head of sales, secured lending at Masthaven, added: “I am really excited about this level of increased funding and I know our introducers will be pleased with the result in terms of further improvement to our product range regarding price and criteria.”
An RBS spokesman said: “The secured loan market is very important to RBS and thus we were delighted to have supported Masthaven in the next stage of their growth plans. We look forward to further building our relationship with the business and management team.”