Complex Buy To Let
Start-up BTL lender Monument receives banking license
Start-up lender Monument has received its provisional banking licence meaning it can take the next step in developing its offering.
The firm received the approval from the Prudential Regulation Authority (PRA) and Financial Conduct Authority earlier this week, according to reports.
It is targeting high net worth customers and is set to include a buy-to-let (BTL) offering as part of its initial proposition, with loans available up to £2m, which it aims to launch next year.
The firm is due to close a funding round which it expects will earn it more than the £10m it originally targeted.
It has pledged a fully digital process for customers with a net worth of between £250,000 and £5m.
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