finance volume at £1.2bn
A survey by the National Association of Commercial Finance Brokers
(NACFB) of its members has found that in 2006, they wrote vehicle
finance deals worth an impressive £1.2bn. This figure is an
increase of 339 per cent on the comparable figure in 2005 (£290m),
reflecting the growth in NACFB membership among the UK’s vehicle
finance brokers, among other factors.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Overall, the NACFB survey found that its members registered
business volumes across all fields of £19.3bn in 2006, up 46 per
cent year on year.
NACFB chief executive Adam Tyler commented: “The real growth
areas are vehicle finance and buy to let mortgages. The rise in
vehicle finance business can be at least partially explained by the
impressive growth of the vehicle finance division of the
NACFB.
“Put simply, we have a lot more brokers transacting vehicle finance
than we did twelve months ago. Also more brokers are taking the
holistic approach and writing business across the entire market:
commercial mortgage, leasing and asset finance, vehicle finance,
and also some factoring and invoice discounting, as and when the
client requires it.”
