View more on these topics

NACFB bolsters member support

The National Association of Commercial Finance Brokers has bolstered its support to members following Commercial First’s decision to cease new business trading.

It includes the compilation of a list of lenders who are willing and have the capacity for new business.

Adam Tyler, chief executive of the NACFB, says: “Obviously, as such a large lender in the market, a main concern for the association is the impact this decision will have on members’ pipeline business.

“This was also a concern for Commercial First, who approached us immediately for help in redirecting business to alternative sources with the minimum of delay and inconvenience.”

Tyler add that executive and directors of the NACFB will be monitoring the situation closely following an early morning board meeting held this morning, and notify mjembers of any further developments, which could impact their business.

He says; “Unfortunately this is just a symptom of the general malaise the market is suffering and, although there are many lenders keen to write prime business, lenders who will take the risk of sub-prime or self-certificated borrowers are becoming fewer and fewer.”


Darling pledges £60m to help small firms

Chancellor Alistair Darling has pledged to inject £60m into the Small Firms Loan Guarantee scheme.The SFLG aims to provide funding for small firms which might not be eligible for conventional business loans because they don’t have assets to offer as security.The scheme provides lenders with government guarantees against default under certain circumstances.Darling says he will […]

Easier2move sales appointments

Easier2move has appointed two regional sales directors. Lisa Newey and Charlotte Etheridge have been promoted to the positions, with Newey covering the South and Etheridge overseeing central and northern England.

Pressure to axe ERCs for long-term deals

The government is urging lenders to consider alternatives to early repayment charges to encourage the take-up of long-term fixed rate deals.A Treasury report unveiled in last week’s Budget, entitled Housing finance review: analysis and proposals, blames ERCs for low consumer demand for long-term products.It states: “Lenders have scope to manage the pre-payment risks associated with […]


News and expert analysis straight to your inbox

Sign up