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. "
