Consumer Finance Lender Completes £120 Million of Funding Lines

1st Stop Group Limited, the specialist consumer lender, is delighted to announce the completion of £120 million of funding facilities to support the group’s objective of becoming a leading consumer finance brand in the UK.

 

Since investment by Pollen Street Capital in 2016, 1st Stop Group has undergone significant growth across its Secured Lending, Car Finance, Personal Loan and Home Improvement products. This growth has been driven by its detailed understanding and experience of the near prime segments of its chosen markets.

 

A new £75m securitisation facility was secured from Citi, alongside increased balance sheet funding provided by existing funders. Both facilities will enable 1st Stop to increase lending and support for consumers in the UK.

 

Mark Robins, CFO of 1st Stop said;

“We are delighted to announce continued support from our existing funders and the introduction of Citi to our funding group. We envisage significant growth in our chosen markets and look forward to working closely with our funders, who have a recognised track record in our market space, to deliver on our growth aspirations”.

1st Stop Group were advised by the Financial Services Corporate Finance team at EY.

 

About 1st Stop Group

1st Stop Group offers Car Finance loans, Secured Second Charge Mortgages, Unsecured Personal Loans and Home Improvement loans to UK customers. In 2016, the business announced a significant investment by Pollen Street Capital, a private equity fund manager focused on investing in businesses in the financial and business services sector and has invested over £1.2bn in a range of businesses across all stages of development.

1st Stop has a 98% positive approval rating from customers and employs 140 people across offices in Blackpool, Durham and Manchester.

1st Stop is authorised by the Financial Conduct Authority.

 

Contact: Mark Robins, Mark.Robins@1ststop.co.uk, 01253 601 961

Published July 2017

Exciting news from 1st Stop

1st Stop Group Limited, the specialist consumer lender, is delighted to announce a significant investment by Pollen Street Capital.
Since its establishment as a lender in 2009 , 1st Stop Group, which has offices in Blackpool and Durham, has undergone significant growth across its Secured Lending, Car Finance, Personal Loan and Home Improvement Products. This has been driven by its detailed understanding and experience of the near prime segments of its chosen markets. The investment by Pollen Street Capital will allow 1st Stop Group to continue to develop and grow its lending book whilst also investing in the infrastructure and platform to deliver an excellent level of customer service alongside the detailed and thorough underwriting to build a high quality lending business.

1st Stop Group will be the second investment by Pollen Street’s third fund, which reached a first close in March 2016 and is targeting businesses where there is opportunity to deliver transformational growth by leveraging Pollen Street’s extensive experience and professional network across the financial services sector. Pollen Street Capital is a private equity fund manager focussed on investing in businesses in the financial and business services sector and has invested over £1.2bn in a range of businesses across all stages of development.

Commenting, Alex Mollart, Founder and Chief Executive of 1st Stop Group, said;

“ We are delighted to announce this investment by PSC Fund III. We envisage significant growth in our chosen markets and look forward to working closely with the Pollen Street team, who have a recognised track record in our market space, to deliver on our growth aspirations.

Commenting , Lindsey McMurray, Managing Partner of Pollen Street Capital, said,

“We are very excited to have the opportunity to back Alex, Dave and the rest of the team at 1st Stop to continue the rapid growth they have achieved in their chosen specialist markets. 1st Stop possesses the qualities Pollen Street looks for in its investments, with an entrepreneurial and driven management team, a differentiated strategy and value proposition, and the clear potential to be a market leading business. We look forward to working with the team to achieve our combined vision for the business”

Star Feedback Customer Feedback

STARFEEDBACK

1st Stop Personal Loans customer, Mr. A H comments “I was very uneasy about taking out a personal loan as I have known other friends who had taken out a loan with other providers which for them was a nightmare. I found 1st Stop Loans very easy. I filled out the online application and it gave me a decision in minutes. I then had a follow up call from Leanne from the underwriting team. She was great, I could not fault her! She went though my application with me and noticed that I was eligible for a better rate! How great was this, she even saved me money on my monthly payments. She fully explained to me what I was getting myself involved in and called me back when promised. For the final part of my loan I spoke to Angela. She was also great, she went though everything with me and called me back when promised. 1st Stop Loans you have done me proud, service was excellent and loan was paid out really quickly! I would definitely recommend to anyone” (03/09/2015)

1st Stop provides exemplary service with unsecured offering
Posted on July 8, 2015 in Blog

After being highly commended from the Financial Awards for Best Unsecured Lender, 1st Stop are on the up with their positive customer feedback and exemplary customer service. This week 1st Stop customer, Mr. V H has managed to secure a £7,500 personal loan with a low interest rate resulting in a very satisfying outcome. Mr H was able to use the online self-service application to apply for the loan and was then guided through the process by our friendly team. Mr H said “I am really impressed and blown away with how straightforward and fast the loan process was” with the whole process taking only a day from the start of the application to the confirmation of the loan, with a speedy next day pay-out.

1st Stop were able to lend the amount required so that Mr H could consolidate hire purchase finance, whilst using the rest of the loan to update his home. This was completed with a hassle-free process and outstanding customer service skills, which has been reflected in Mr H’s feedback with a 10/10 rating; “The level and clarity of communications from 1st Stop has been extremely high, giving me confidence and assurance to proceed with this loan. I just wish my own bank was as accessible.”

Mr H proceeds “I will, without hesitation, recommend 1st Stop to anyone I know who is seeking a loan.”

June Customer Survey Results
Posted on July 8, 2015 in Blog

97% said that they would recommend us to family and friends.

Average rating  9.4 / 10

1st Stop Home Loans Launch Packaging Service
Posted on June 18, 2015 in Blog

We have successfully launched a packaging service option so that brokers can now package their secured loan application for clients before sending it to 1st Stop for processing.

This new offering provides greater choice to the broker by either continuing to refer clients directly or maintaining complete control of the sales and packaging process.

We have been established for over 10 years and offer specialist products for customers requiring higher loan to value products who have suffered from credit issues.

Fluent Money is the first master broker to take advantage of this service and has enjoyed a significant uplift in sales in this specialised area of the market.

Tim Wheeldon, Managing Director of Fluent Money, said:  

“We have worked with 1st Stop Home Loans for a while now and found that its products help us to assist a number of clients who ordinarily might find it difficult to source the funding they need. The service has always been excellent and I know the intermediary market will benefit from the 1st Stop proposition.”

Alex Mollart, Chief Executive of 1st Stop Group, commented:

“Giving our Introducer Partners choice is very important to us and this new service builds on our recent technological advances in offering online, instant decisions for our specialist products.”

May Customer Survey Results
Posted on June 4, 2015 in Blog

97% said that they would recommend us to family and friends.

Average rating  9.4 / 10

April Customer Survey Results
Posted on May 1, 2015 in Blog

98% said that they would recommend us to family and friends.

Average rating 9.6 / 10

1st Stop Personal Loans highly commended in the Financial Reporter Awards
Posted on April 20, 2015 in Blog

Well done to all the winners in the Financial Reporter Awards 2015. We’re really proud to announce 1st Stop Personal Loans have been highly commended in the Best Unsecured Lender category. An excellent achievement we’re all really proud of here at 1st Stop. Thank you to all those who voted for us and the continued support within the marketplace.Financial Reporter Award Highly Commended Unsecured Lender 2015 1st Stop Loans

March Customer Survey Results
Posted on April 2, 2015 in Blog

99% said that they would recommend us to family and friends

Average rating 9.3 / 10

February Customer Survey Results
Posted on March 2, 2015 in Blog

94% said that they would recommend us to family and friends

Average rating 9.4 / 10

Greater Manchester Fastest 50 companies of 2015
Posted on February 13, 2015 in Blog

1st Stop Group have made it to the list of Greater Manchester Fastest 50 companies of 2015.

The companies are all from the Greater Manchester Business Week’s circulation area and have all seen their turnovers grow over the last three years whilst remaining profitable in each of those years.

The full A – Z list can be found HERE

1st Stop appoints new BDM
Posted on February 6, 2015 in Blog

1st Stop Group have announced the appointment of a new Business Development Manager, Laura Walters.

Joining 1st Stop in May 2013 as Senior Underwriter in the group’s Home Loans division, Laura will now be responsible for managing new and existing relationships with 1st Stop’s introducers.

Laura Walters commented:

“I’m looking forward to building on existing broker relationships, developing new ones and introducing new product developments. Hopefully, I can help new and existing introducers realise every opportunity that passes their way.

Sales and Marketing Director for 1st Stop Group, Steve Case commented:

“Laura has shown excellent sales ability over the last 18 months as one of our top performing underwriters at 1st Stop Home Loans. The appointment comes at a pivotal time for 1st Stop as we enjoy increased volumes through the launch of an innovative range of new lending products and processes. These include instant online decisions for both secured and unsecured products, no and low equity loans up to £20,000, a true rate for risk model and market leading introducer commissions with no packaging costs. With her extensive underwriting experience, Laura will be a real asset to us and our introducers in the field.

January Customer Survey Results
Posted on February 2, 2015 in Blog

98% said that they would recommend us to family and friends

Average rating 9.3 / 10

Supporting The Wills Family Foundation
Posted on January 15, 2015 in Blog

24-hour payment facility for 1st Stop Personal Loans
Posted on January 10, 2015 in Blog

You can now make a payment to your 1st Stop Personal Loan account by phone. Simply call 01253 845 880 with your loan agreement number and your debit card details to hand. The process is quick, easy and best of all you can call any time!

We won’t charge you to use this service, the amount you pay is what we credit to your account.1st Stop telephone

If you need to discuss your account with an advisor please call 08443 725 278. Our offices are open from 8:00am to 6:30pm (Monday to Thursday)  and 8:00 to 5:30pm (Friday).

*Please note that local call rates apply, please check with you provider.

December Customer Survey Results
Posted on January 5, 2015 in Blog

95% said that they would recommend us to family and friends

Average rating 9.3 / 10

November Customer Survey Results
Posted on December 1, 2014 in Blog

98% said that they would recommend us to family and friends

Average rating 9.3 / 10

October Customer Survey Results
Posted on November 3, 2014 in Blog

98% said that they would recommend us to family and friends

Average rating 9.2 / 10

 

New 1st Stop Products
Posted on July 30, 2014 in Blog

We’re pleased to announce the launch of new products to cater for customers underserved by mainstream lenders.

For many years, we have offered specialist products for customers with little or no equity and/or recent adverse, now we can reveal a new offering of secured product rates from just 12% APR.

We’ve also re-launched our Personal Loans product to offer a range of rates for both homeowners and tenants. The product offers loans from £1,000 to £10,000 with instant, on-line decisions and an e –signature fulfilment.

If you’re a broker or introducer and you would like to find out more about our products, contact our Sales & Marketing Director, Steve Case for a friendly informal chat today:

By telephone: 01253 601 988

By mobile: 077912 15035

By email: steve.case@1ststop.co.uk.

By post: 1st Stop Group, 10 Whitehills Business, Blackpool, FY4 5LW

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