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Infinity is back after securing new funding

Infinity Mortgages returned to the lending market last week after it temporarily withdrew from the sub-prime market at the beginning of August.

The firm has retained Inv­estec as provider of its funding line. Infinity head of mar­keting Simon Biddle says
the new range reflects the current market conditions and it has compressed its loan to value ratios in its wider adverse range.

Biddle would not comment on how much funding it has secured from Investec but says it will keep them going for the foreseeable future.

The firm recently launched new packaging firm Infocus Mortgage Packaging and Biddle says the venture has started well.

He says: “We have got a few more exciting initiatives down the line but I will not be saying any more on that for the time being as the ink is not dry.”

Chief executive Matt Gilmour says: “Contrary to widespread speculation, we are back. I am delighted to announce that we have secured funding for a new product range. The past few weeks have been incredibly difficult and I thank our loyal customers for their messages of support.

“There remains little sign of the global financial markets returning to normality. As a lending community, we need to be very careful in the short to medium term to ensure that business written remains attractive to capital market investors, given the experiences in the US.”

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