Key Group targets secured loans with V Loans acquisition
Deal expands Key’s intermediary business
Key Group, the leading specialist provider of financial solutions to the over 55’s, is expanding its lending offer to include secured loans with the acquisition of top packager V Loans.
The deal, which is subject to regulatory approval, enables Key Group to strengthen its proposition for intermediaries in the specialist lending arena and builds on its market-leading position in the equity release and retirement income markets.
V Loans, which was founded by Dave Pinnington and Marie Grundy in 2007, has grown to be one of the leading whole of market secured loans packagers focused exclusively on intermediaries. Whilst V Loans target all customer age groups this acquisition allows it to offer second charge and secured lending to the growing demand specifically amongst the over 50’s with Key able to offer the V Loans proposition to its referral partners as well as direct to consumers.
Key Group plans to retain the V Loans brand and the packager will continue to operate from its headquarters in Wilmslow, Cheshire
Colin Taylor, Chief Executive of Key Group said: “The secured loans market is growing strongly and the acquisition of V Loans enables Key Group to enhance the range of solutions we offer customers and advisers. V Loans shares our focus on the importance of delivering the highest quality and bespoke personal service and we look forward to working with the team.”
Dave Pinnington, Director of V Loans added: “We are absolutely delighted to be joining the Key Group which will give us the opportunity to work closely with their hugely successful executive management team. This will undoubtedly give us the platform to develop our ambitious growth plans within the secured lending sector for mortgage intermediaries and also provide access to important additional financial services products for customers of Key.”
Preston-based Key Group was founded in 1998. As the leading specialist provider of financial solutions to the over 55’s, Key Group, through its specialist distribution arm Key Retirement Solutions, is the UK’s number one equity release adviser as well as a top five annuity broker and the group is a leading innovative equity release lender through more 2 life.