According to Catalyst, the acquisition provides access to a broader funding base, enabling the business to enhance product design and improve pricing. It said mortgage brokers will benefit from a wider range of product options and increased support for property investors and developers.
“Establishing Catalyst as a leading name in specialist finance has been an enormous privilege,” said Chris Fairfax (pictured), chief executive of Catalyst Property Finance. “We’re thrilled to be entering the next chapter of this journey with the backing of the group.
“We share our vision for the future with Pete and the wider group; we speak the same language and share common goals. The timing was perfect, they were looking to diversify, and we needed funding to enable us to deliver upon our ambitious plans.
“Brokers can expect Catalyst to launch creative finance products that really meet their clients’ needs, we will continue to invest in and streamline our lending processes, and we’ll always ensure they have the dedicated support from our brilliant team they have grown to expect. With the group’s backing, we’re ready to be a Catalyst for positive change in the specialist market.”
For Pete Ball, chief executive of Foundation Home Loans, the deal “is a great fit, as it allows us to support the property ambitions of a broader range of borrowers.”