Catalyst Property Finance secures funding from OneSavings Bank
Catalyst Property Finance, led by former Positive Lending MD Chris Fairfax, has announced "significant additional capacity" to provide short-term finance to borrowers with a new funding line from OneSavings Bank.
"We are ready to add to our existing funding relationships to enable lower interest rates and increased lending. "
Catalyst was founded in 2017 and provides first and second charge mortgages up to 80% LTV.
Chris Fairfax, CEO at Catalyst Property Finance, said: “Since our inception two years ago, Catalyst has experienced exceptional growth and we are ready to add to our existing funding relationships to enable lower interest rates and increased lending. OneSavings Bank supported our lending philosophy and have delivered a funding package to make our business even more compelling and relevant.
"There is strong demand for short-term finance and we have significant capital to deploy and believe our products offer tangible value in a crowded market.”
Steve Attree, head of secured finance at OneSavings Bank, commented: “Chris and Team at Catalyst have demonstrated a sound understanding of the short-term finance market and an ability to write good quality loans. We are delighted to be able to support the business as it further establishes itself in the market.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Santander
Santander launches 98% LTV ‘My First Mortgage’
First-time Buyer
Improved affordability sparks 20% rise in first-time buyers: NationwideÂ
Inflation
Further rate cuts dampened as inflation rebounds to 3.4%
Mortgage Rates
Two Big Six lenders increase mortgage rates as swaps rise
Bank Of England
Bank of England holds interest rates at 3.75% in narrow 5-4 vote
Interest Rates
Looser Fed policy stance could slow further rate cuts, policymakers warn