View more on these topics

Title Deed

It started life as a company called First Fortune Finance, dealing with personal loans and hire purchase and subsequently became Commercial Credit, a subsidiary of the American Control Data Corporation, the mainframe computer manufacturer.

“You name it, we financed it – cars, lorries, planes, even sheep,” says managing director Keith Astill. “We did personal loans and revolving credit, the application form for which could usually be found on page three of the Sun. Our travel loans were a little less successful – we only sold two and one of those was a one-way ticket to Jamaica.”

In 1984 UCB dipped its toe into the residential mortgage market after which it was bought in 1985 by Compagnie Bancaire Group of France at which time it acquired the name UCB (Union de Credit pour le Batiment – ‘credit for buildings’). Then, in 1995 UCB Home Loans was acquired by Nationwide.

“From that time we focussed on building our reputation in the residential self-cert mortgage market before branching out into buy-to-let and becoming the specialist lender we are today,” Astill adds.

Recommended

FSA to crack down on financial crime

The Financial Services Authority unveiled a new division to tackle the risks posed by the evolution of financial crime. Speaking at the FSA’s Annual Financial Crime Sector Conference, John Tiner, chief executive of the FSA told the audience that the new Financial Crime and Intelligence Division would further raise the FSA’s game.Tiner says: “All of […]

Buyout trouble grows at Countrywide

Another Countrywide shareholder added its name to the growing list of investors coming out against the proposed buyout of the estate agency by 3i last week. US hedge fund Jana Partners tripled its stake in Countrywide to 5.5% to add weight to the already significant vote against the proposed deal. It joins Artisan, Standard Life […]

Neptune Global Income: Is Japan the best dividend market in the world?

By George Boyd-Bowman, Fund Manager at Neptune The Neptune Global Income Fund seeks exposure to the very best – and often overlooked – income opportunities from across the world. Unconstrained by benchmarks, the fund currently has 24 per cent invested in Japan, differentiating the high conviction portfolio from many of its peers. Watch Neptune Fund […]

Newsletter

News and expert analysis straight to your inbox

Sign up