Boost for Homeowner Loans Availability

The Norwich-headquartered independent financial services company, Central Trust PLC, has announced that it has agreed terms on a new £90 million revolving credit facility with The Royal Bank of Scotland and National Australia Bank (NAB).

The new facility provides the company with funding to support its ongoing operations as well as providing additional funding to support future growth plans for the company with lending in the Homeowner Loans and Secured Loans market.

UK - in Norwich, Redditch and Watford. The company is the largest independently owned specialist financial services broker in the UK.

Amongst the portfolio of services it provides are mortgage broking and lending, secured loan broking and lending, general insurance and debt management plans, including individual voluntary arrangements.

Speaking of the new credit facility and the implications for the business, Executive Chairman of Central Trust PLC, Andrew Turner said: “We are delighted to have secured this new funding facility from RBS and NAB. It is a testament of our business model, our reputation and resilience in these tough economic times. It is also an endorsement of the strength of proposition that we create for our customers and their requirements.”

Kieran McSweeney, Director, Structured Finance, Corporate & Institutional Banking at RBS added: “Central Trust has established itself as the largest and most highly respected independently owned financial services organisations in the country. Despite tougher trading conditions it continues to flourish, reflecting the diversified income stream model the company has established.”

Greg Elswood, Director, Specialised Group Assets at NAB commented: “Central Trust has been a good customer of National Australia Bank for a number of years, and we are delighted to continue our support for the company. Andrew Turner and his team have managed difficult markets well, and the new credit facility will help to support Central Trust’s growth plans and the next stage of the company’s development.”