Castle Trust applies for banking licence

    Castle Trust Applies For Banking Licence
    3rd April 2018

    Following continued success, Castle Trust has entered discussions with the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to pursue a banking licence application.

    This represents the next phase of growth for Castle Trust, which was originally authorised by the FSA in September 2012.  Since then, Castle Trust has offered investment products alongside its mortgage range and now has approximately £750m of assets under management and £660m of bonds outstanding.  In 2017, Castle Trust further expanded the offering with the acquisition of Omni Capital Retail Finance.

    As a result of this growth, the company has applied for the licence to support the continued evolution of the business and enable it to further expand the product offering across both the mortgage, savings and consumer finance arms.

    Speaking of the application, Sean Oldfield, Group Chief Executive said:
    “We are delighted with the progress of the business to date and today marks a significant moment in the evolution of the company.  Making the application for a banking licence will allow us to continue our innovative approach to both investments and mortgages as the business continues to grow.”   

    Mortgages
    Your property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Your home may be repossessed if you do not keep up repayments on your mortgage. Loans are subject to status, terms and conditions. This website is for information purposes only. If you are in any doubt regarding suitability of our products please seek advice from an accredited independent mortgage adviser.

    Investments
    You risk losing capital should Castle Trust become insolvent.

    Castle Trust is the trading name of both Castle Trust Capital plc (company number 07454474) and Castle Trust Capital Management Limited (company number 07504954). Castle Trust is authorised and regulated by the Financial Conduct Authority, under reference numbers 541910 and 541893. Registered office: 10 Norwich Street, London, EC4A 1BD. Registered in England and Wales.

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