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Written by Brian Rogerson
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Friday, 02 September 2011 11:32 |
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Short-term bridging finance has made a remarkable impact in the UK finance industry during the last 12 months.
Latest figures from the UK’s National Association of Commercial Finance Brokers’ (NACFB) latest annual survey of its members reveals that short term lending rose by a significant 180% over the last year.
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Written by Brian Rogerson
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Monday, 20 June 2011 10:33 |
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Steve Green Mark Haywood
A new UK brokerage, Clear Asset Finance (Clear), was launched this March and is likely to become a trail setter of innovation for the intermediary sector.
How is Clear able to differentiate itself in the extremely mature UK broker sector?
Mark Haywood, Clear’s operations director told Asset Finance International that the aim is to make lease finance more readily available to the marketplace. “Suppliers’ salespeople are traditionally very adept at selling their products – but not nearly as good as introducing the means to acquire them. It is crucial for salespeople to have finance at their fingertips to be able to sell their assets more effectively,” he said.
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Written by Brian Rogerson
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Thursday, 14 April 2011 08:15 |
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The UK National Association of Commercial Finance Brokers (NACFB) has secured an override commission scheme with Santander Business Banking that aims to benefit the entire membership of the Association.
The scheme has arisen from the mutual support between NACFB and Santander in recent years and has been widely welcomed by brokers. It means that all NACFB Brokers introducing business into this part of Santander will receive extra commission and it will not affect any existing commission schemes that association members may have. It is also open to any commercial finance broker that joins the NACFB during 2011.
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Written by Philip Copple
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Thursday, 03 March 2011 16:43 |
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When will major funding return to the asset finance market?
This was one of the key issues discussed at the UK National Association of Commercial Finance Brokers (NACFB) Asset Finance Seminar held on Tuesday March 1 in London.
A common problem experienced by the brokers of the NACFB was the difficulty in locating funding for their clients after the past two years, complaining that many of the bigger lenders had fled the market.
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Written by Brian Rogerson
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Monday, 24 January 2011 09:22 |
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The National Association of Commercial Finance Brokers (NACFB) has appointed Kevin Jones, of Omega Commercial Solutions as chairman. Jones has been a director of the association since 2005 and was deputy chairman from 2009.
Jones explained: “Having been involved with the NACFB since its inception and the last five years as a main board member, I am delighted to have been voted into the Chair for the next two years. A great deal of progress has been made by the association over the past few years and my aim whilst chairman is to ensure the momentum continues and the NACFB ensures the high profile it has enjoyed over the past couple of years is maintained.”
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Written by Brian Rogerson
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Tuesday, 30 November 2010 12:56 |
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As asset lenders begin to increase their appetite for new business, so brokers will be amongst the first beneficiaries.
An early indication of this was at the National Association of Commercial Finance Brokers’ (NACFB) annual general meeting, Gala Dinner and Awards held last week in Birmingham where attendance was some 40% up on the previous year.
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Written by Paul Walsh
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Wednesday, 29 September 2010 14:09 |
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RSA, the UK’s largest commercial insurer has introduced a new mini fleet product which covers companies with fleets of between two and 15 vehicles. The product covers vehicles that are predominantly for business use including cars, vans, small trucks, trailers and forklifts.
Brokers can access this product via several e-trading platforms, including RSA's new personalised system RSA Online. This allows them to obtain an instant quote, as well as bind cover for new business, process mid term adjustments and accept renewals.
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Written by Brian Rogerson
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Tuesday, 21 September 2010 14:08 |
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During 2009, individual members of the National Association of Commercial Finance Brokers (NACFB) who operate in the leasing and asset finance sectors successfully proposed on average a total of £5.25m in advances, which represented an average deal size of £40,864 covering around 128 transactions.
Overall, however, hit by shortage of funders and tighter underwriting requirements, leasing finance totals (at £992m) struggled to reach the figure for 2008 to 2009 (£997m). A far cry, indeed, from the halcyon days of 2007 to 2008 when turnover reached £1.1bn.
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Written by Brian Rogerson
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Thursday, 09 September 2010 07:55 |
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It is some 20 years since Kennet Equipment Leasing (Kennet) weathered the last recession. That was when the company was formed, in 1990 and immediately in the wake of the late-1980s economic downturn.
“That was a very different type of recession,” explained Kennet’s managing director, Steve Swift, “demand was down but there was no shortage of funds. This time, individual companies want to buy and replace equipment, but the funds aren’t there to match it.”
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Written by Brian Rogerson
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Thursday, 02 September 2010 13:34 |
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Members of the National Association of Commercial Finance Brokers (NACFB) have reported an uplift in the amount of new business written between June 2009 and June 2010.
In all sectors of broking – ranging from commercial mortgages through to vehicle finance, advances rose by 17.6% to £7.5bn (2009: £6.3bn). The total, however, is a pale shadow compared to the “halcyon days” of finance broking, in 2006 to 2007, when balances financed totalled some £19.2bn.
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