Blemain Group of lending companies, which incorporates

Lancashire Mortgage Corporation

, Blemain Finance and Cheshire Mortgage Corporation, has secured a £640 million three-year banking facility to contribute towards funding its existing business and to provide a platform for its future growth.

The Group has agreed to extend by three years its facilities with a syndicate comprising Royal Bank of Scotland, National Australia Bank, Lloyds Banking Group and the Co-Operative Bank.

The additional funding is a sign of significant commitment and confidence in the strength of the Group’s business, which provides a strong foundation on which to deliver growth plans over the coming years. 

With this facility in place Blemain Group can continue to play an important role in providing financial liquidity within a constrained market.

Commenting on the facility, Gary Bailey, Director said: “This exciting announcement reflects our commitment to growth and will have a positive impact on all of the markets that the Group participates within. 

“Continuing to support our brokers and key partners in the secured residential and commercial secured loan, mortgage and bridging finance markets, is essential our strategy and enabling them to seize opportunities.

“Securing these funds coincides with the relocation to our prestigious new offices, and reinforces our intentions for future growth, so we are now well positioned to progress our strategy as a major force in the relevant markets.  

“I’d like to take this opportunity thank you for your continued support and look forward to an exciting partnership as we work together for mutual success.”