Castle Trust has received FSA authorisation for its HouSAs investments.
The institution has previously received £50 million of equity investment from J.C. Flowers & Co, while Castle Trust Capital plc is already licensed by the Office of Fair Trading to provide Partnership Mortgages.
The company, which is launching on 1 October, will offer HouSAs, which are investments providing returns in excess of the national housing market (as measured by the Halifax House Price Index), as well as Partnership Mortgages, which are a new type of shared equity mortgage “for responsible, good credit quality homeowners”.
“This is an exciting time for us because FSA authorisation marks the final milestone ahead of launching our business,” said Sean Oldfield, CEO of Castle Trust.
“From 1 October, we will be offering investments and mortgages that have never been available in the UK until now, and which we believe will address some of the key challenges currently faced by investors and home owners in the housing market.”
