Bluestone secures funding from NAB

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  • 05/10/2017
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Bluestone secures funding from NAB
Specialist lender Bluestone Mortgages has secured a new funding facility from National Australia Bank (NAB), Australia's largest business bank.

The moves comes after the lender agreed a funding facility with Shawbrook Bank earlier in the year and takes Bluestone’s aggregate funding capacity to more than £300m.

NAB provides products and services through its Australian franchise, BNZ in New Zealand and via its offices in the United Kingdom, the United States and Asia.

David Torpey (pictured), managing director of Bluestone Mortgages said: “Today’s announcement confirms our ongoing commitment to growth here within the UK and the rest of Europe. Our new funding line not only gives us a deeper capacity and support to grow the business, but importantly further diversifies our funding base to enable richer product innovation, and deliver greater stability to our services in the EU.

 “We will continue to serve customers who are underserved by mainstream lenders and believe our new funding allows us to meet these borrowers’ growing needs.”

 

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