Key Group is expanding its lending offer to include secured loans with the acquisition of V loans, the firm said in a statement today (3 September).
The deal will enable Key Group, a specialist provider of financial solutions to the over 55’s, to build on its position in the equity release and retirement markets. The firm also plans to strengthen its proposition for intermediaries in the specialist lending arena.
V Loans targets customers of all age groups, however, the acquisition by Key Group will allow it to offer second charge and secured lending to the growing demand specifically amongst the over 50’s. Key said it will be able to offer the V Loans proposition to its referral partners as well as direct to consumers.
The Key Group plans to retain the V Loans brand, and the packager will continue to operate from its headquarters in Wilmslow, Cheshire.
The deal is subject to regulatory approval.
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.”
