Central Trust has secured a £90 million funding line with the Royal Bank of Scotland and is looking to restart secured lending immediately.
To support this, it has appointed financial outsourcing firm Target Loan Servicing as its standby servicer. As standby servicer Target Loan Servicing will step in and provide full servicing within 60 days if invoked.
Central Trust has been a key client of Target Group for nearly five years, having previously invested in Target’s financial software for loan account and arrears management.
Jason Callander, project manager at Central Trust, said: “Flexibility and credibility were key requirements for us when sourcing a standby servicer – particularly in the current economic climate. Our investors required reassurance that the right level of standby cover was in place to support their investment. Target Loan Servicing has the specialist skills needed to effectively service the portfolio and mitigate the portfolio’s exposure to risk if invoked. Target Loan Servicing was the obvious choice.””
