Bananas Inc launches branded lending operation with SPML

Bananas Inc has launched a branded lending operation with the support of Southern Pacific Mortgage Limited that is expected to generate £50m of additional mortgage lending over the coming 12 months.

 

The branded lending business, which will retain SPML branding, started operating at Bananas Inc&#39s Whiteley, Hampshire offices this week. It is serviced by its own underwriting staff and a team of processing personnel. The move takes Bananas Inc into new areas of the sub-prime markets.

 

Dave Symondson, director of Bananas Inc, says: “We will be going into different areas of the sub-prime market with a really strong range of products. We are excited about what SPML is going to contribute over the coming year.”