
25/03/2008
Changes to the Consumer credit act
Sole Traders, Partnerships and private individuals stand to
gain additional rights such as discounted settlements and extra
early termination rights as of April 6th 2008. The Consumer
Credit Act will undergo changes that mean all non-Limited Companies
and private individuals will receive the same rights on a credit
transaction borrowing more than £25,000, where assets are used
at least in part for private use (typically cars).
Previously the act allowed these transactions to become "non-regulated"
and finance companies had differing rights and commitments for
these. This means that a private individual buying a car and
financing £40,000 has the same rights and protection as an individual
borrowing £5,000. The same does not apply to "business
use only" assets (eg plant, machinery & commercial
vehicles). Contact Rich Causon on 01455 250690 for additional
guideance on how these changes affect your business.
25/03/2008
Sub-hire takes off!
CBF has a large number of customers who, themselves hire equipment
and vehicles on to end users. With the recent credit crunch,
hire businesses have needed additional funding lines as some
asset finance companies have reduced their appetite or have
withdrawn completely from this market. During the first 10 months
of trading, CBF has provided over £2.0m in sub-hired asset funding.
A number of our asset finance companies we use are geared up
to provide sub-hire arrangements and can cope with the extra
paperwork involved.
25/03/2008
Sub-hire takes off!
CBF has a large number of customers who, themselves hire equipment
and vehicles on to end users. With the recent credit crunch,
hire businesses have needed additional funding lines as some
asset finance companies have reduced their appetite or have
withdrawn completely from this market. During the first 10 months
of trading, CBF has provided over £2.0m in sub-hired asset funding.
A number of our asset finance companies we use are geared up
to provide sub-hire arrangements and can cope with the extra
paperwork involved.
29/01/2008
Causon Business Finance increase headcount
Rich & Liz Causon had a 7lb 4oz boy who they are calling
Marcus Andrew Causon. Rich Causon said "we are delighted
to have a second boy. This is more great news after an excellent
2007, which saw an exciting start to CBF
18/01/2008
Credit Crunch continues
Last week, Egg Credit Cards announced the withdrawal
of 160,000 credit cards from its "higher risk" customers,
which has been heavily publicised in the press. Far from this
being an isolated incident, both business and consumer credit
organisations are re-assessing their customers and market positions.
This has been as a result of the losses that main banks have
experienced over the last 12 months due to the high risk mortgage
market collapsing in the USA.
16/01/2008
To cut or not to cut rates?
Leading economists at 3 of the UKs leading corporate bankers are stongly backing a further 1/4% interest rate cut when the bank of England Monetary Policy Committee sits during February.
With retail sales figures showing slower year on year growth and the property market slowdown the Bank of England looks set to cut rates shortly. This is being reflected across the finance markets.

29/01/2008 -
New Chapter for Leasing
Changes to leasing regulations introduced in the budget can make
it cheaper to use asset-based finance.
In summary, these changes will affect the way capital allowances
are calculated on all leases, and in some cases, who is entitled
to claim them as well.
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