Under the terms of the agreement, a new company will be set up by Kent Reliance called Jersey Home Loans Limited. The new company will cater for the needs of the Jersey borrowers and will offer access via both post and internet to a range of services. Existing mortgage clients are being kept fully briefed by Standard Chartered Grindlays on all future contact details and arrangements.
Mike Lazenby, Chief Executive of Kent Reliance, commented: “We are delighted to have completed this sale. Our move to Jersey signals a further change of gear and a significant phase in our planned expansion programme. With the launch of Jersey Home Loans Limited, our new customers can expect a genuinely personal service, flexible and competitive products and long term value that can be relied on.”