Christian Faes, managing director of the lender, confirmed plans to submit an application to the FSA as soon as next month.
George Patellis, currently a consultant with Montello and formerly chief executive of Tiuta, has spent the past month helping the business ready itself.
Faes said: “We want to adhere to the best standards possible for bridging lenders.
“We’re worried that there is the perception that bridgers fly close to the wind but we believe getting regulated will put us among the most reputable lenders in the marketplace.
“Having regulated status would also allow us greater flexibility in the future in terms of what products we can offer, perhaps meaning we could move into mainstream lending at some point.”
Faes added that Montello’s decision to apply for full authorisation from the FSA was also to give investors confidence.
“We raise finance through our income fund and we feel the FSA stamp of approval would give our investors more assurance,” he added.
