1:40 pm, July 25, 2023
Automotive finance provider Mann Island has reached a milestone in its history after the firm’s live lending book hit £1bn.
Founded in 1991, the firm began its life as part of a dealer group but has since transformed into one of the biggest names in the UK motor finance sector.
Bosses have put the company’s success down to its ‘human touch’ and paid tribute to all the staff that have made the latest landmark possible.
John Hughes, Mann Island Finance’s managing director, said: ‘Achieving a live book of £1bn of motor finance lending is a fantastic milestone for us to have achieved as the first new lender to enter the UK market in many years.
‘The success is a combination of great people, fantastic business relationships and leading-edge multi-award winning fintech capability. It has all been about teamwork and a vision to transform vehicle lending.’
Mann Island’s drastic transformation was initially kicked off in 2014, when it was purchased by the Investec Group.
As part of the outfit, the firm has completely transformed its model to become a dedicated motor finance lender and has now loaned out over £2.3bn to car and van buyers across the UK
Today the business provides Hire Purchase, Personal Contract Purchase and Lease Purchase products, and as well as cars and LCVs.
Reflecting on the success, 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.’
Pictured: John Hughes, Mann Island Finance’s managing director
