Broker-introduced asset finance volumes have
decayed over the last year despite a general recovery in the
market, says UK trade body the National Association of Commercial Finance
Brokers (NACFB).
A member survey conducted by the association
claimed that £992m (€1.2bn) worth of asset finance business was
introduced by member brokers in the year ending 30 June 2010,
compared to £997m in the previous 12 months.
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This compares to £1.2bn introduced at the peak
of the market in 2006-2007.
There is good news, however – many of the
NACFB’s members appear to have diversified into vehicle
finance.
The figure for vehicle finance introduced in
the year leading to 30 June 2010 was £980m, showing a revival of
29% from the 2008-2009 total of £758m.
“this is partly due to the fact that more of
our members are now writing this kind of business,” commented NACFB
CEO Adam Tyler.
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By GlobalDataInvoice finance brokers were the biggest
winners over the last year, with £892m of business introduced. This
represents the third consecutive year of increased lending in this
area, and a volume more than double the £183m introduced in
2006-2007.
Total commercial lending to SMEs through NACFB
members was up 17% year-on-year to reach £7.5bn. This total was
still only 39% of the £19bn lent at the peak of the market between
June 2006 and June 2007, due to the crash in the commercial
property and buy-to-let markets.
