Later life specialist Key Group is to expand its offering to include secured loans after acquiring packager V Loans for an undisclosed sum.
The deal is subject to regulatory approval. Once complete, Key Group says it will retain the V Loans brand and the packager will remain in its current headquarters in Wilmslow, Cheshire. All existing V Loans staff will remain with the company following the acquisition.
Founded in 2007 by Dave Pinnington and Marie Grundy, V Loans lends to all age groups but will now have access to second charge and secured lending to the over-50s market through Key Group’s referral partners, as well as directly to consumers.
Key Group chief executive Colin Taylor says: “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 director Dave Pinnington adds: “We are delighted to be joining the Key Group which will give us the opportunity to work closely with their successful executive management team.
“This will give us the platform to develop our growth plans within the secured lending sector for intermediaries and also provide access to important additional financial services products for Key customers.”