Established in 1877 in Glasgow, Heritable Bank moved to London in the 1950s and operates from Hill Street, just off Berkeley Square in Mayfair. It was acquired by Iceland’s oldest bank, Landsbanki Islands hf , in 2000 from Wachovia. The business has a tradition of providing finance for property and its Structured Property Finance business represented the core activity of the Bank.
The experienced management team was expanded in 2002 and the business broadened and extended its activities, taking money market deposits in 2003 and commencing specialist mortgage lending to augment the expansion of the property finance activities. In 2004 the retail savings business was launched focussing on fixed rate bonds and notice accounts. In 2005 Heritable Asset Finance was established and Key Business Finance was acquired. In 2006 the experience of the Team at Heritable was applied to the development of Icesave , an online savings business, for the parent company Landsbanki. In 2007, Heritable Capital Partners was established to provide equity style investment into property transactions.
This expansion of the business was achieved through the recruitment of experienced market specialists. Heritable has developed a reputation for the experience and skills of its team for delivering commercial solutions for its customers.