Beaumont also outlined that TML plans to invest increasingly in its staff following the deal.

The relationship between TML and Shawbrook Bank originated three years ago, with talks of an acquisition in its early form beginning then.

Furthermore, several board members of TML already had a role Shawbrook Bank, which Beaumont explained eased the process of an acquisition as many of the key members involved were already well established within the specialist lender.

Beaumont went on to outlined that the bank and specialist lender compliment each other well as they cover different aspects of the marketplace.

TML will retain its brand, however, the agreement will extend the Shawbrook Bank’s product range and increase its distribution network.

Additionally, as a result of the agreement, TML is now regarded as a bank lender following the deal.