Market Harborough Building Society launches motor finance business

Market Harborough Building Society (MHBS) has officially launched its motor finance business following regulatory approval, marking its entry into the UK motor finance market under the new Nestra Lending brand.

The new business will operate alongside the Society’s existing mortgage lending activities and has been developed to provide a dedicated motor finance proposition for brokers and customers.

MHBS said the launch comes at a time when the motor finance sector is under increased regulatory scrutiny, with the business designed around transparency, technology and customer outcomes.

Nestra Lending has been developed in partnership with a selected group of brokers and will use a technology platform offering real-time case updates, fast lending decisions and access to key documentation.

The Society said customers and brokers will receive clear disclosure of commission arrangements, fees, charges and lending terms as part of its commitment to responsible lending.

Iain Kirkpatrick, chief executive of MHBS, said: “The launch of Nestra Lending is a testament to the dedication, expertise and vision of our exceptional team.

“Together, we’ve created a proposition that combines innovation, transparency and outstanding customer service at a time when the market needs it most.

“We’re incredibly proud of what we’ve achieved and excited about the positive impact this business will have for brokers, customers, our members and the wider community.”