Market Harborough Building Society enters motor finance market with support of AG specialists

International law firm Addleshaw Goddard has advised Market Harborough Building Society (MHBS) on its move to enter the motor finance market. 

The move, which has received regulatory approval, marks a significant step in MHBS’s growth strategy and plans to build a fair, transparent and customer-centric lending proposition. 

Iain Kirkpatrick, Chief Executive of MHBS said: “Securing regulatory approval marks a significant milestone, enabling us to proceed confidently as we enter the motor finance arena.”

The firm’s market-leading Building Societies and Mutuals team and Tier 1 ranked Consumer Finance practice supported MHBS on its regulatory authorisation application and certain other related considerations. 

The AG team was led by Financial Regulation Partner Clare Hughes and Corporate Partner and Head of Financial Services Sector Ben Koehne. 

Ben Koehne said: “We are pleased to have supported Market Harborough Building Society on its entry for the first time into the motor finance market, with the launch of a new motor finance proposition at a time when others are withdrawing from the market. This is a great example of our market-leading Building Societies and Mutuals team continuing to be at the centre of innovative developments in the sector and demonstrates the strength of our team in supporting clients in obtaining regulatory approval to enter new markets.”