Mann Island Finance has stepped up its lending activity in the last year, with its total lending passing the £500m mark in early March.
John Hughes, managing director of Mann Island, points to the combination of deep dealer insight and a committed parent as being crucial to Mann Island’s evolution to becoming a mainstream lender.
He said: “While we are proud of our broker origin and the cultural ‘can-do’ ethos embedded deeply into the business, today our primary activity is as a lender and the last year has been a breakthrough period for us. As other lenders retrenched, we kept lending and indeed accelerated our activities, making many new friends along the way.”
Mann Island Finance is part of the international banking and wealth management group, Investec. With their parent’s backing and investment, notably in technology, the business is looking forward optimistically.
John added: “Standing side-by-side with our dealers and brokers over the last year has enabled more people to discover our approach and appetite. It is a springboard we will be building upon as showrooms re-open. Having achieved one milestone, we are already eyeing up the next one.”
Last year, Mann Island enjoyed two successive record-breaking months in finance volumes in June and July, driven by reports of a bounce-back in used cars and a level of pent-up demand.
Andy Muir, head of sales at Mann Island, said: “As a business, we took the lockdown period as an opportunity to step up level of dealer and customer engagement, remaining prominent in support and guiding the dealer network and in helping customers facing financial challenges.
“At the same time, we re-energised our business development approach. Our move to home-based working has proved very successful and allowed us the time to really focus on our dealer orientated finance company mentality and included within this was the development of specific roles for business development and account acquisition.”