OneSavings and Charter Court complete merger

OneSavings Bank and Charter Court Financial Services Group have now combined their two businesses, it has been announced.

The new specialist mortgage lending group will “use its greater scale and resources to offer an enhanced proposition to customers, brokers and distribution partners,” the two companies said.

The pair’s brands – Precise Mortgages, Kent Reliance for Intermediaries, InterBay Commercial, Heritable and Prestige Finance – will remain separate; as will propositions, services, contacts, procuration fees and product offerings.

OneSavings Bank began trading in 2011 as a specialist lending and retail savings business, while Charter Court was founded in 2008 with a focus on specialist buy to let, residential, bridging and second charge mortgage lending.

New group managing director Alan Cleary said: “We’re very pleased today to announce the completion of the combination of OneSavings Bank plc with Charter Court Financial Services Group plc.

“Intermediaries have always been at the very heart of our propositions, and I’d like to take this opportunity to reassure brokers that operationally they’ll notice absolutely no change. It will be business as usual, with all the brands of the new group remaining committed to the intermediary market.”

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