Specialist lender Catalyst Property Finance has been acquired by The FHL Group, sister company of Foundation Home Loans.
Catalyst Property Finance will maintain its brand identity and operate as a separate entity with no planned operational or resource changes.
The lender said it would be “supercharged” by the acquisition and gain access to a diversified funding pool, allowing it to be more innovative with products and competitive with pricing. Catalyst Property Finance said brokers would benefit from these changes alongside a growing platform to support clients.
The lender was established in 2017 and offers short-term, unregulated loans including refurbishment, bridging, auction, development exit, development finance, commercial bridging, and specialist buy to let (BTL).
Chris Fairfax (pictured), CEO of Catalyst Property Finance, said: “Establishing Catalyst as a leading name in specialist finance has been an enormous privilege, and we’re thrilled to be entering the next chapter of this journey with the backing of the group.
“I work alongside a hugely talented and dedicated team who have been instrumental in our success to date. Together, from a standing start in 2017 with very limited equity and resources, fuelled by a passion to be pioneering and to challenge convention, we have lent over £600m, with exceptional book performance and profitability in every year.”
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He added: “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.
“My team and I are excited for the coming months and years; 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.”
Pete Ball, chief executive of Foundation Home Loans, said: “I’m really pleased to welcome Chris and the whole Catalyst team to the group. This is a great fit, as it allows us to support the property ambitions of a broader range of borrowers.
“Catalyst is already a standout name in bridging and specialist finance, and this move allows us to expand into new areas where they’ve already built a highly impressive reputation. There will be no operational or resource changes as a result of the acquisition.
“Our role is to support Catalyst with an enhanced, diversified funding line, and to help it achieve the long-term ambitions and growth plans that we, and they, have for the future.”