Whiteaway Laidlaw Bank acquires Link Loans
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Whiteaway Laidlaw Bank has acquired secured loans lender Link Loans.
Link Loans will be extending its product range as a result of the move, while WLB will be rebranding this autumn.
Stephen Johnson, new business director at WLB, says: “WLB has ambitious plans to develop a diversified lending business across a range of commercial and personal lending markets.
“Link loans has made a real impact in the secured loan market, achieving an enviable reputation for its service delivery and product innovation, and we believe it is a business that will benefit greatly from being part of a specialist bank.
Philip George, joint managing director at Link Loans, says the acquisition will allow Link Loans to deliver a wider range of more competitively priced products.
He says: “We are wasting no time in making this deal work for Link and are delighted to be announcing a complete revamp of our entire product range.
“We are making a big statement of intent, as the Link product range has been radically extended to cover the whole market up to and including a 7.9% product for prime borrowers looking to raise up to £100,000.”
WLB was acquired by RBS Equity Finance in January 2011, shortly after which it acquired the new business platform of Commercial First.
The bank has been originating commercial mortgage business since April of this year.
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