"We are ready to add to our existing funding relationships to enable lower interest rates and increased lending. "
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.
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.”