We are a Registered Firm with the Lending Standards Board which publishes the Standards of Lending Practice for business customers. The Standards of Lending Practice are voluntary and set the benchmark for good lending practice in the UK.
For more information, please visit Standards of Lending Practice.
The Standards of Lending Practice for business customers apply to organisations, which at the point of lending:
- Have an annual turnover of no more than £6.5million in their last financial year (excluding VAT and other turnover related taxes).
- Do not have a company ownership structure (e.g. businesses with overseas, multiple or layered ownership structures).
This set of standards applies to asset finance, namely Hire Purchase and leasing products. Contract hire (motor/retail at the point of sale within dealership) is not currently in scope.
Click to get your copy of the Standards in Lending Practice for Business customers - Asset Finance (PDF, 219 KB)
Click for more regarding lender borrower responsibilities - Asset Finance (PDF, 75 KB)