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Accounting for leases is changing

Accounting rules for the leasing of assets are about to change, but will this change the way businesses acquire capital equipment?

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Just 11% of business lending is fixed rate loans

The asset finance market has historically approved of the predictability of fixed interest rates, so what lies behind this shift of focus?

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Praetura puts the needs of SMEs first

Praetura Asset Finance has posted results of another record-breaking Q1, including the news that the number of completed refinance cases has grown by a third.

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UTB brokers report Brexit uncertainty

United Trust Bank says that two thirds of brokers operating in the Asset Finance sector believe that the spectre of Brexit is causing some businesses to delay investing in vehicles, plant and machinery.

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New MD brings spark to Ignition

Ignition, leading UK provider of vehicle and SME asset finance, has today announced the appointment of Paul Caunter as new managing director. Paul takes over the position from Alan Tutte who founded the company in 2004 and who will be supporting Paul in his new role through the transition period...

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Star expects to shine in 2018

The Star Asset Finance group (“SAFL”) is looking to further grow its workforce across the UK. Steve Swift, CEO of SAFL, commented, “We’re keen to attract the right personnel to our team..."

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The new face at MAF

Financial services broker Midlands Asset Finance has bolstered its presence in Lincolnshire by appointing Lincoln-based Tom Gawne to the position of relationship manager...

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Two new names planning ahead at Arkle

The asset finance specialist Arkle Finance has recently appointed Daniel Bailey as managing director as it seeks to consolidate a period of rapid growth, having lent more than £50 million in 2017. One of Mr Bailey’s first actions as MD was to appoint Brian Jerome as an Associate Director with key responsibility for sales...

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The true cost of GDPR

16pct of brokers and intermediaries, who responded to a recent UTB poll, expect their GDPR bill to exceed £5000. However, 15pct are yet to start their preparations for the General Data Protection Regulation (GDPR) which comes into force on 25th May...

 

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Broker achieves lift-off with UTB

United Trust Bank (“UTB”) is pleased to announce that the winner of its 2017 ‘Taste of the high life’ broker promotion is Kay Singh from ChaseBlue Loans...

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Metro Bank boosts business development team

Across London & SE Metro Bank is winning 17pct of SME current account switchers - many of which will require asset finance.  To support these customers Metro Bankhave recruited three new Business Development Directors and three new Business Development Managers...

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Arkle breaks out GDPR toolkit

Specialist lender Arkle Finance provides practical support to small asset finance broking businesses having to prepare for General Data Protection Regulation (“GDPR”). Arkle says it has developed the toolkit “specifically for the leasing market to overcome information overload..."

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BVRLA fights for fleet-friendly tax regime

The UK’s largest purchaser of new cars says it wants to work with Government to revive the electric vehicle market and reverse the recent increase in average new car CO2 emissions. The British Vehicle Rental and Leasing Association ("BVRLA"), whose members are responsible for one-in-eight cars on UK roads, has written to the Chancellor ahead of the Spring Statement to make clear how working with the fleet sector to develop a fair and well-signposted Company Car Tax regime can encourage drivers to choose greener, cleaner vehicles...

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Hitachi implements VAT innovation

Hitachi Capital Business Finance has announced a major change to the way customers can repay a loan by offering the option to fund VAT across the term of an agreement. An industry first, the scheme means customers are no longer required to pay for VAT upfront as a deposit, as is currently standard across the sector, and are able to spread the cost evenly over the period of the agreement...

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HTB handshake for new Chief Risk Officer

Hampshire Trust Bank has announced the appointment of Clive Gavin as Chief Risk Officer, following regulatory approval. Clive, who joined Hampshire Trust Bank on an interim basis in May 2017, spent 36 years at RBS in a variety of roles. More recently he spent time at Shawbrook Bank assisting them in upgrading their Risk Management and Risk Appetite Frameworks and Aldermore Bank as Interim Head of Enterprise Risk.

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NACFB names 2018 sponsor

Today (20th February) Lloyds Bank was announced as the title sponsor of the National Association of Commercial Finance Brokers ("NACFB") for 2018. Andy Bishop, National Director of Business Development, SME Banking at Lloyds Bank, said, “We are proud to sponsor the NACFB in 2018 to help deliver more education, innovation and value across this highly competitive market. The NACFB’s commitment to transparency, not to mention their advocacy of the many benefits to customers of using a professional intermediary, is just one of the reasons why becoming title sponsor was an easy decision for us..."

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Arval offers "mobility solutions"

Arval, the fleet management and vehicle leasing company owned by BNP Paribas,  says that it is repositioning itself as a ‘mobility solutions company’ on the back of a raft of new products and services due to be rolled out over the coming months which will see it significantly increase its UK and global customer base. The group predicts its new programme will see it grow its global fleet from 1.1 to 1.3 million units by the end of 2020...

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New BDM for UTB Asset Finance team

United Trust Bank ("UTB") has appointed Chris Leverett as a Business Development Manager for Asset Finance. Chris will be responsible for developing new broker relationships in the Central region including Wales whilst also maintaining United Trust Bank’s existing broker network in those areas, and he will report to Asset Finance Sales Manager, Keith Sangwin. Chris has more than 30 years’ experience in the Asset Finance industry. He has previously held senior business development roles at Paragon Bank, Paccar Financial and Fortis Lease ...

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New lender due to enter market

City of London Group ("COLG"), which applied for its banking licence in December 2017, has said it will offer leasing products as part of its forthcoming lending business. The team for the bank will be headed by Jason Oakley, formerly managing director for commercial banking at Metro, and will also include Bryce Glover, previously in banking roles at Santander and Nationwide, and Adrian Golumbina, who brings with him two decades of advisory experience in the field of leasing. The West Midlands-registered company Echo Financial Services will become the challenger bank, providing loans and leases to businesses, funded by retail deposits. It is understood that the lending business is likely to launch...

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Hampshire Trust Bank improves broker service

Hampshire Trust Bank, the specialist bank, has appointed Nicola Fernandez (née Brown) as Business Development Manager in its Asset Finance team. Based in Exmouth on the south coast of Devon, Nicola will focus on maintaining and building broker relationships across South West England and Wales. Vincenzo Scalzone, Head of Broker at Hampshire Trust Bank, said, “We are committed to improving the service we provide to our brokers and Nicola’s appointment will help to strengthen our proposition across the South West and Wales."

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Close Brothers highlights high street failings

Just 17pct of UK SMEs feel their high street bank fully understands the specific challenges of their business, according to Close Brothers Group’s latest business barometer, taken from 900 UK SMEs. Close Brothers' research revealed that UK SMEs were concerned that their high street bank was not well enough equipped to offer bespoke advice and support for their business, with just 24pct saying that they offered a range of products suitable for their business. Close Brothers' report, titled The Power of Productivity: Measuring, understanding and improving productivity for SMEs, revealed that only 26pct of SMEs thought that their high street bank ...

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Aldermore choose Independent Age for 2018

Employees at Aldermore have chosen Independent Age, which offers free information and advice for older people and their families, as their Charity of the Year for 2018.

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New CEO at HTB

The Board of Hampshire Trust Bank plc has announced the appointment of Matthew Wyles as the Bank's new Chief Executive Officer.

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Santander helps maintain haulage momentum

Oldham-based HTF Transport Ltd has expanded its fleet following a significant asset finance facility with Santander Business Banking.

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Import costs push up price of car leasing

The cost of leasing a new car in the UK has risen by 9pct in just the last year, reveals new research by UHY Hacker Young, the national accountancy group.

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1pm boosts block discounting facilities

1pm plc has negotiated increased Block Discounting Facilities totalling £62 million. Combined with the £35 million facility with the British Business Bank this results in the Group having access in aggregate to £49.5 million of additional funding, and a total of £97 million in new and renegotiated facilities...

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Shire Leasing sees future in independence

Shire Leasing Plc has decided not to proceed with a possible sale of the company and has since undergone a restructure.

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Rivers does the double in FT1000

Rivers Finance Group, the holding company of Rivers Leasing Plc, has been ranked in the FT1000: Europe’s Fastest Growing Companies for the second year running, attaining number 391 in the list.

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White Oak agrees to acquire LDF

White Oak Global Advisors LLC (collectively “White Oak”) has agreed to acquire LDF Group (“LDF”). In acquiring LDF, White Oak will have over 22,000 active loans across more than 10,000 direct clients in the UK SME market,  as well as a national sales force in excess of 100 personnel across a variety of channels...

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Close Brothers takes high road to North Scotland

Close Brothers Asset Finance has announced that it has appointed industry specialist, Alistair McCallum, to take responsibility for The Angus, Aberdeen and North of Scotland, Moray and Inverness and Highlands and Islands areas. 

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Aldermore on track to find winning formula

Aldermore has just announced its commitment to sponsor teenage motor-racing sensation Jamie Chadwick, who is tipped to be the first female F1 driver in decades. The Bank will become Jamie’s principal backer for the British Racing Driver’s Club British Formula 3 Championship season...

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British Business Bank boosts 1pm

1pm plc has announced that it has signed an asset finance facility with the British Business Bank (“BBB”) under BBB’s ENABLE Funding programme that will provide £35 million of additional funding. The new facility increases the total funding facilities available to the Group to in excess of £155 million...

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Metro Bank helps horticulture to flourish

Metro Bank has recently announced that it has provided Newey Group with £10 million of senior debt, a £7 million invoice finance facility, £1 million of working capital, as well as a £500,000 asset finance solution. Newey Group is one of the UK’s largest and most advanced propagators and growers of protected ornamentals...

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Financial services partner with distributor Midwich

Office equipment distributor Midwich, which deals in audio-visual and document equipment, has launched a leasing product to complement its existing finance offer. The company has partnered with five financial services companies: BNP Paribas Leasing Solutions Ltd, Azule Ltd, Macquarie Bank Ltd, Paragon Bank Technology Finance Ltd and Xerox Finance Ltd...

 

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Aldermore comments on Spring Budget

Carl D’Ammassa, Group Managing Director, Business Finance at Aldermore, has commented on the Chancellor’s call for evidence into the issue of late payments in his Spring statement. He said, "As small businesses continue to face challenges in the lead up to Brexit, it is vital that they, as the bedrock of the UK economy, are paid on time and in full"...

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Job Board

Area Development Manager - Asset Finance - CBC Resourcing Solutions
Business Development Director - Commercial Banking - CBC Resourcing Solutions
Business Development Manager - Asset Finance - CBC Resourcing Solutions
Sales Support Administrator - Asset Finance - CBC Resourcing Solutions
Business Development Manager - CBC Resourcing Solutions
New Business Administrator - CBC Resourcing Solutions
- Robinson Toms Recruitment
Business Development Managers – Volume Dealer Driven Asset Finance – Nationwide – Base salary range to £65,000 on target earnings + 25% commission quarterly paid and with uncapped potential plus £750 a month car allowance plus benefits - Robinson Toms Recruitment
UK Sales Director – Dealer Introduced Asset Finance - Location flexible – Salary range to £130,000 , on target earnings £200,000 plus generous cash car allowance and benefits. - Robinson Toms Recruitment
Credit Manager – Asset Finance – Manchester – Salary range up to c£60,000 plus company car, bonus up to c20% plus all usual large company benefits. - Robinson Toms Recruitment
Financial Services Manager – Hard Assets – Surrey located / EMEA wide remit – salary range up to £70,000 + c£7,000 cash car allowance + typically 15% of salary bonus plus all usual large company benefits. - Robinson Toms Recruitment
Head of New Business Management – Asset Finance - Hampshire – Salary range to £70,000 plus discretionary bonus of up to 50% of salary plus all usual large company benefits. - Robinson Toms Recruitment
Head of Liquidity & Market Risk - THC Recruitment
Customer Relationship Manager - THC Recruitment
Underwriter - Asset Finance - THC Recruitment
Account Manager - THC Recruitment
Lease Administrator - THC Recruitment
Credit Controller/Collections Executive - THC Recruitment
Collections Manager – Asset Finance - The Oakland Partnership
Junior Credit Underwriter – Financial Services - The Oakland Partnership
Experienced Collections Account Manager – Financial Services - The Oakland Partnership
LEASING PROFESSIONALS WANTED TO JOIN TOP ASSET FINANCE RECRUITER - The Oakland Partnership
Internal Sales Coordinator – Asset Finance / Leasing - The Oakland Partnership
Credit Underwriter – Asset Finance industry - The Oakland Partnership
J2286 - New Business Coordinator - UK, Gtr London / SE Eng - Asset Finance - New Leaf Search
J2285 - Regional Sales Manager, Construction - UK (Flexible Location) - Asset Finance - New Leaf Search
J2283 - Legal Recoveries Assistant - UK, Thames Valley / SE Eng - Asset Finance - New Leaf Search
J2277 - Corporate Sales Executive - UK Flexible (SW Eng preferred) - Asset Finance - New Leaf Search
J2269 - Senior Account Manager, IT - UK, S Eng - Asset Finance - New Leaf Search
J2241 - Team Leader, New Business Processing - UK, SE Eng / Thames Valley - Asset Finance - New Leaf Search
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