Charter Savings Bank deposits hit half a billion
Charter Savings Bank, a trading style of Charter Court Financial Services alongside Precise Mortgages, has opened over 10,000 savings accounts in the sixteen weeks since its launch, equating to over £500m of consumer deposits.
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Alan Cleary, Managing Director of Precise Mortgages, said:
“We became a bank because we understand that diversification of funding is critical. One of the lessons learned from the financial crisis is that capital markets and the securitisation markets can be unpredictable. Having access to consumer deposits gives us more options which in turn benefit the mortgage intermediary, as well as our borrowers.
"We are focused on delivering lots of new mortgage products and improving our service to both mortgage intermediaries and borrowers across our Residential, Buy to Let, Bridging and Second Charge product ranges.”
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