Under the terms of the agreement edeus will have access to £500 million via a Deutsche Bank warehouse funding line. This is in addition to its current facilities and allows edeus to diversify its funding base and increase its liquidity.
Commenting on the deal, Ian Lonergan, CFO at edeus, said: "This is great news for edeus as it allows us greater choice and flexibility in how we fund our mortgage originations. This deal means that edeus has even greater ability to take market share away from the existing lenders. Ultimately, it will mean more choice for mortgage intermediaries and consumers."
