Key Group is expanding its proposition with the acquisition of V Loans, the Wimslow-based second charge packager.

The purchase is subject to regulatory approval, but Key Group says it plans to retain the V Loans brand and keep the operation in its Cheshire base.

V Loans was founded by Dave Pinnington and Marie Grundy in 2007. Key says that while V Loans targets all customer age groups this acquisition will allow it to offer second charge and secured lending to the growing demand specifically amongst the over 50s, with Key able to offer the V Loans proposition to its referral partners as well as direct to consumers.

Colin Taylor, chief executive of Key Group said: “The secured loans market is growing strongly and the acquisition of V Loans enables Key Group to enhance the range of solutions we offer customers and advisers. V Loans shares our focus on the importance of delivering the highest quality and bespoke personal service and we look forward to working with the team.”

Dave Pinnington, director of V Loans, added: “We are absolutely delighted to be joining the Key Group which will give us the opportunity to work closely with their hugely successful executive management team.

“This will undoubtedly give us the platform to develop our ambitious growth plans within the secured lending sector for mortgage intermediaries and also provide access to important additional financial services products for customers of Key.”