The takeover firm JC Flowers on Tuesday outlined a pioneering plan to invest in building society which is Kent Reliance, and expressed that it was expected to settle similar deals with new mutually-owned British lenders.

According to JC Flowers' Europe and Asia Pacific chair person, David Morgan it's justified to express that they wouldn't be astonished if in time other societies had a curiosity in a similar partnership. He further added that the group was looking forward for a very vigorously for more investments in the UK, Ireland and Spain.

JC Flowers' deal with Kent Reliance permits the lender to hoist up 50 million pounds of fresh capital by vending a bet to the buyout firm while keeping hold of its mutual status.

Moving further with the plan, the Kent Reliance might be creased into a new bank, dealing as Kent Reliance Banking Services that might sell shares to JC Flowers in turn for a 50 million pounds capital injection.

KRBS might turn up a subsidiary of the Kent Reliance Provident Society, which is a recently created mutual organization that the current Kent Reliance building society members would be allowed to join.