Monument, a challenger bank for the affluent, has had its restrictions lifted by the FCA.
In Brief:
Monument was granted “authorisation with restriction” last year in anticipation of its capital rise.
It's now raised £60mn in capital.
Therefore, it can go fully live in the market and begin offering loans to clients.
What does this mean?
Monument has been set up to serve the UK’s 4.8mn “mass affluent” customers and will begin by offering buy-to-let bridging loans to help landlords grow their portfolios.
