V Loans, the specialist secured lending arm of KR Group, has been granted full consumer credit permission for its consumer credit activities by the Financial Conduct Authority (FCA).

The FCA permission comes as KR Group’s acquisition of V Loans, announced in September, is formally completed and the company is confirmed as a trading name of Key Secured Lending.

The brand name of V Loans, which was founded in 2007 by Dave Pinnington and Marie Grundy, is being retained and the company will continue to operate from its headquarters in Wilmslow, Cheshire.

Grundy said: “As the regulatory landscape for the second charge market continues to evolve at a rapid pace we are focused on ensuring we exceed the regulator’s high standards.

“It is crucial in the second charge market as intermediaries looking to place business will choose partners carefully with regulatory standards in mind and the FCA permission ensures that we can look to extend our services to a wider intermediary base in the coming months.”