Anyone here in Asset Finance?
Discussion
Business is booming. I mean we have got new work coming out of our ears and I need to finance more cabs.
Great credit profile, been using Barclays Asset finance with an awesome rate but now they are tightening up and don't appear willing to lend.
Is anyone out there looking to lend to a safe customer (government contracts etc).
Great credit profile, been using Barclays Asset finance with an awesome rate but now they are tightening up and don't appear willing to lend.
Is anyone out there looking to lend to a safe customer (government contracts etc).
Many finance houses are in a similar position as Barclays, with some having stopped lending and have their asset finance sales forces selling deposit accounts only.
From a conversation I had yesterday I know that Lombard are still lending virtually unhindered but they are not everyones cup of tea.
From a conversation I had yesterday I know that Lombard are still lending virtually unhindered but they are not everyones cup of tea.
Egbert Nobacon said:
Many finance houses are in a similar position as Barclays, with some having stopped lending and have their asset finance sales forces selling deposit accounts only.
From a conversation I had yesterday I know that Lombard are still lending virtually unhindered but they are not everyones cup of tea.
Why not?From a conversation I had yesterday I know that Lombard are still lending virtually unhindered but they are not everyones cup of tea.
They've offered a very attractive rate. Better than the barclays rate we previously enjoyed.
I think it comes down to 'brand image' and some people like to deal with more well known providers such as Barclays, HBOS etc however they are usually more expensive. If you compare like for like deals then Lombard are usually cheaper, if not push them and chances are they will be very competitive.
At the end of the day they are owned by RBS, they have plenty of funds and are eager to do the business and provide a good service. I know because my other half works for them providing asset finance and she is always snowed under with business. Many people are assuming funds are hard to get at the moment. Not the case, if you have a good business then they will be able to assist.
With asset finance look carefully at the quotes as some organisations try to hide the true cost or build in extra fees. Make sure you are comparing like for like some of the players tell you the quote is one thing but turns out to be another.
At the end of the day they are owned by RBS, they have plenty of funds and are eager to do the business and provide a good service. I know because my other half works for them providing asset finance and she is always snowed under with business. Many people are assuming funds are hard to get at the moment. Not the case, if you have a good business then they will be able to assist.
With asset finance look carefully at the quotes as some organisations try to hide the true cost or build in extra fees. Make sure you are comparing like for like some of the players tell you the quote is one thing but turns out to be another.
GameOverMan! said:
I think it comes down to 'brand image' and some people like to deal with more well known providers such as Barclays, HBOS etc however they are usually more expensive. If you compare like for like deals then Lombard are usually cheaper, if not push them and chances are they will be very competitive.
At the end of the day they are owned by RBS, they have plenty of funds and are eager to do the business and provide a good service. I know because my other half works for them providing asset finance and she is always snowed under with business. Many people are assuming funds are hard to get at the moment. Not the case, if you have a good business then they will be able to assist.
With asset finance look carefully at the quotes as some organisations try to hide the true cost or build in extra fees. Make sure you are comparing like for like some of the players tell you the quote is one thing but turns out to be another.
At the end of the day they are owned by RBS, they have plenty of funds and are eager to do the business and provide a good service. I know because my other half works for them providing asset finance and she is always snowed under with business. Many people are assuming funds are hard to get at the moment. Not the case, if you have a good business then they will be able to assist.
With asset finance look carefully at the quotes as some organisations try to hide the true cost or build in extra fees. Make sure you are comparing like for like some of the players tell you the quote is one thing but turns out to be another.
pretty much what I was going to write.Dave YHM, btw
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