Mann Island Finance lending hits £1 billion milestone

Mann Island Finance has hit the £1 billion lending milestone, which it says cements its position as a “significant player” in the UK motor finance sector.

John Hughes, Mann Island Finance’s managing director, said the milestone has been achieved, alongside the UK's motor dealer and specialist broker communities, due to the company’s “teamwork and a vision to transform vehicle lending”.

While Mann Island Finance has a long history in the UK motor finance sector, a strategic decision with the backing of parent Investec has seen the business transform its model to become a dedicated motor finance lender.

From its ‘test and learn’ start as a lender, the business quickly faced the challenge of the global pandemic.

Hughes said the business kept its door open, kept lending and sustained its investment in digitising the business model, helping dealers and customers with imagination and retaining the confidence of its parent company Investec.

Today the business provides hire purchase, personal contract purchase and lease purchase products, as well as cars and light commercial vehicles (LCV).

Hughes added: “As a new lender, we needed to ‘earn our spurs’ and show we could go the extra mile.

“Our agility, imagination and technology have served us well. We aim to build on these strong foundations and help the wider motor finance sector transform as the operating environment in which we operate transforms. I’m very confident in our ability to deliver on this ambition.”