1st Stop Home Loans to provide secured loans for Conister Bank
Conister Bank has today announced it has entered into a IWFA with 1st Stop Home Loans to provide secured personal loans to consumers. 1st Stop Home Loans will introduce and pre-underwrite loans on behalf of Conister Bank.
1st Stop Home Loans is part of the northwest based financial services group 1st Stop Group Limited which offers a range of loan products to the retail market.
This is the second IWFA that Conister Bank has arranged with the 1st Stop Group. On the 24th April 2013, the Company announced that Conister Bank entered into a funding agreement with 1st Stop Car Finance Limited. This agreement has already generated over £1 million of new loans since that date.
Juan Kelly, Conister Bank's Managing Director, observed:
"The UK banking landscape is undergoing significant structural change due to improvements in technology and regulatory pressures. This offers new opportunities for challenger banks like Conister Bank. In particular, we see our Integrated Wholesale Funding Agreement as being the most effective way of servicing the new guard of finance companies that are emerging in the UK SME and consumer markets."
1st Stop Home Loans' Directors, Alex Mollart and Mike Gray, commented:
"With the credit squeeze persisting, we see increasing demand for our Home Loans product. Our funding arrangement with Conister has unlocked a key barrier to growth. "
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Budget
Budget: Government confirms details of 2.5% deposit first-time buyer scheme
State Pension
Budget: Government confirms state pension tax protection
FCA
FCA restricts six lenders over anti-money laundering concerns
FCA
Advice firm employees plead guilty after defrauding clients of £2m
Budget
Budget: Government reduces Lifetime ISA withdrawal charges ahead of new FTB ISA launch
Inflation
Inflation rises to 3.5% as mortgage rates outlook shifts