A BUSINESSMAN has said that his team's hard work had paid off after his Penarth-based company secured significant investment.

James Rainbird, managing director of Pink Pig Loans, is celebrating becoming part of the Cardiff-based mortgage group Y3S group.

They have now taken a 50 per cent stake in the Penarth company, based at Washington Chambers in Stanwell Road.

Pink Pig Loans has been operating for more than a decade, primarily dealing in second charge mortgages and bridging loans.

The Y3S mortgage group is aiming to generate £140 million in second charge mortgages and £85 million of bridging loans in 2017.

Mr Rainbird, a former Albert Primary and Stanwell School pupil, first started his career in London.

Now living with his young family back in his hometown, he said: "I've always had the drive to do well and our company is held in high regard within our industry.

"We are very proud of what we've developed here. We've been trading successfully for 12 years.

"We have a very good reputation and we are an expanding business.

"This investment is great for our stability and recognition for our hard work.

"I am proud of what we've achieved and we want to give back to the community."

Mr Rainbird is also a member of Penarth Round Table, of which he was chairman in 2015.

He has also undertaken various charity challenges, including a bike ride from Boston to New York for the Velindre Cancer Centre.