Non-prime motor finance house British Credit Trust (BCT) has cut
its ties with a number of brokers that it deemed
“underperforming”.
CEO of BCT, John Sinclair confirmed to Motor Finance
that brokers which failed to deliver “the volume and the quality of
business” that the finance house needs have had their relationships
with BCT terminated.
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Sinclair declined to give details of numbers of broker
relationships which have been ended for these reasons in recent
months, but emphasised that BCT “is committed to the UK broker
sector”, and that “the lion’s share” of BCT’s brokers “are still
supporting the business”.
He added: “If anything, we are more and more focused on broker
relations throughout the UK, and remain the leading independent UK
non-prime finance company dedicated to brokers, with the largest
volume of broker-introduced business.”
Adaptability and “an immediate response” to changing market
conditions are vital for BCT’s future success, as they are for any
other business in the financial sector, Sinclair commented. The
credit crunch has changed the market “considerably”, he said, and
stressed that industry associations can play “an extremely positive
role” in times of turmoil, helping to protect and sustain the
industry, as “a problem shared is a problem halved.”
He picked out the Finance & Leasing Association as
particularly helpful to members in the motor finance
industry.
Motor Finance Issue: 45 – July 08
Published for the web: July 9 08 16:19
