The Manx Financial Group Plc, parent company of Conister Bank and Edgewater Associates, is launching a new company which it claims will put Manx people and businesses first.
Manx Financial Solutions (Manx FS), led by former head of corporate banking, Isle of Man at Lloyds Bank International, Trevor Kirk, will enable Manx residents and businesses to benefit from mortgage and commercial lending solutions.
In the current economic climate, many island residents are finding it difficult to move up or even get a foothold on the housing ladder.
Manx Financial Solutions (Manx FS) says it aims to help young professionals with good career prospects, such as graduates, to reconfigure their financial arrangements in a way that will allow them to secure a mortgage.
The company says it is also in a position to provide new solutions for businesses which until now, have been unable to secure the support they need due to changing credit conditions.
Mr Kirk, who also runs consultancy firm Villicus Limited said: ‘Many people in business have expressed their concerns to me that they are not getting the best deal from their longstanding bankers, while others fear that their proposals will be declined, negatively affecting their credit standing.
‘We are in frequent discussions with lenders on and off island through whom we are able to put together tailor-made applications for borrowing.
‘Manx Financial Solutions (Manx FS) has the expertise and resources to prepare all the necessary information to the standard expected by banks, thereby saving clients much precious time and money.
‘The company’s up to the minute knowledge of the various rates offered by different lenders allows them to select the optimum arrangement for individual businesses.
‘Where a company’s borrowing requirements are varied, they can also advise on the best structures and arrangements for different component areas.
‘No business wants to pay more than the next for the same arrangement. Our knowledge of rates and margins, and our collective buying power, mean that we can offer assurance in that regard.
‘Manx Financial Solutions (Manx FS) will complement Conister Bank and Edgewater Associates and provide their existing customers with the best choices for personal and business lending’.
Mr Kirk added: ‘What really excites me about this venture is that we already know The Manx Financial Group Plc. are passionate about serving island residents and businesses.
‘We’re delighted to be able to offer a new service which shares that vision and increases opportunities for local people’.