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Lendr: a new business challenging the lending norms launches on the Isle of Man

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Lendr is a new digital mortgage broker and alternative lending provider who have recently established their new business on the Isle of Man.

John Hunter, Head of Banking and Finance met with Sean Moffatt, Co-founder and Director of Lendr who talks about his business vision and explains why he plans to challenge the norms of lending and a desire to be seen as a digital disruptor.

Sean – this must be really exciting for you in launching a new business. So tell me what is Lendr all about ?

Lendr is the catalyst platform on which alternative financing is going to become the norm. A simplistic solution that is agile, quick and efficient yet still meets all the complex needs of the client, something that banks can sometimes struggle with due to legacy systems.

The main feedback we heard when starting out was that it takes too long to get a mortgage and buy a house, well why? Why aren't we challenging the ‘norm’? Time is of the essence, especially in the housing market, quick opportunities and quick access to finance is crucial to ensure that people can grab those opportunities and land themselves on the property ladder.  

Lendr is local. Our ambition is to provide the Isle of Man with the best client service possible and we’ll continue to challenge the norms and be the disruptors to achieve that.

Bringing something new to the market is always a challenge, so why Lendr?

We simply have a passion for helping people create wealth from the earliest possible age. At Lendr this is the ‘why’ that forms the core of our business and our ethos. From assisting people with finance for housing, to bridging the financial gap for our clients, this prospect of generational wealth is what excites us and is driving force behind everything we do.

Not only do we want to support our current Island residents, but we’re passionate about supporting the Island’s economy. We want to attract the economically active people to our Island and create leads for the development of future generational wealth. It’s this business ethos and innovative approach that will bring longevity to our Islands financial state.

Many businesses currently face adversity due to COVID-19, so why do you see now as the right time to launch?

If anything COVID only elevated the need for a digital broker. It was apparent to us that there were inefficiencies in the way that credit was given to the local populous pre-COVID. We have been able to prove that we can still launch a successful business regardless of the circumstances. COVID brought to the forefront the need for more accessible and flexible finance solutions from the comfort of your own home. Being a fully digital broker we are able to provide this, revolutionising the way we do business.

Where do you see this business a year from now? And do you have plans post COVID?

Post COVID is irrelevant really, we were born in a COVID world into a market that was calling for action and already we are seeing business. In the next year we see ourselves being the most efficient and customer-centric mortgage broker and alternative finance provider on the Isle of Man. We also have plans to expand to both Jersey and Guernsey due to the similar demographic, this will also strengthen the links the Isle of Man already has to both Islands and promote business we hope in a variety of business sectors. We know alternative finance will become the new normal due to the limitations of traditional banking, digital finance solutions will be vital to the future of the Isle of Man’s economy and we’re excited for Lendr to be part of it.

Why the Isle of Man?

Obviously there’s a strong personal connection for me with the Island, having grown up here but it also makes good business sense. Future focused, the Isle of Man is renowned globally for its financial sector. We’ve also felt fully supported by the Isle of Man government, and we hope that in turn our business vision will support their agenda to attract more people and businesses to the Island.

Sean thank you for sharing with me all we need to know about Lendr and naturally we wish every success with the new business venture.

Product offering - Digital mortgage broker and alternative finance provider.

Where to find us - www.lendr.im or Lendr. On Facebook, Instagram and LinkedIN

 

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