Castle Trust reveals banking licence plans

Castle Trust was originally authorised by the FSA in September 2012 and since then has offered investment products alongside its mortgage range, with approximately £750m of assets under management and £660m of bonds outstanding.

In 2017, Castle Trust further expanded the offering with the acquisition of Omni Capital Retail Finance.

As a result of this growth, the company has applied for the licence to enable it to further expand its product offering across both the mortgage, savings and consumer finance arms.

Sean Oldfield, group chief executive, said: “We are delighted with the progress of the business to date and today marks a significant moment in the evolution of the company. Making the application for a banking licence will allow us to continue our innovative approach to both investments and mortgages as the business continues to grow.”