Hertfordshire based second charge lender Spring Finance has secured a £100m bank funding line.

It is now increasing its level of broker distribution, with all loans continuing to be processed through Stuart Johnson and Paul Carley at First Choice Finance.

Spring Finance has increased its loan size to a maximum of £100,000 and a minimum of £5,000 and the term to a maximum of 30 years and a minimum of three years.

Spring Finance CEO Stuart Epstein said: “We are delighted to have completed the substantial bank funding loan.

“This demonstrates the strength of the business and also gives us an excellent platform to increase our lending capability within the market.

“The increased level of broker distribution means that Spring Finance is in an excellent position for future growth within the dynamic second charge loan market.”

Ashcombe Advisers LLP acted as exclusive financial adviser to Spring Finance in connection with this transaction.