Manx Financial Group has announced that its wholly owned subsidiary, Conister Bank, has entered the Isle of Man retail mortgage market.
The retail mortgage market is one of the largest lending segments on the Isle of Man, currently standing at circa £3.0 billion, but it offers limited competition for customers. Conister now has the relevant licences and permissions to access this market and will begin sales from Monday, 24 February 2025.
Douglas Grant (pictured), Managing Director of Conister Bank, said: “This achieves another strategic objective in diversifying and delivering our growth plan for Isle of Man business. Mortgages are an important market on the Island, and one in which we have had no historic exposure.
“This initiative will not only allow customers a wider choice, but will also provide additional lending opportunities for Conister, complementing our existing bridging loan range and the general insurance and protection products provided by Edgewater Associates Limited, our sister company.”
