In Reference Appointments & Updates Appointments & Updates
Fiduciam is extending its relationship with car manufacturer TVR through a further three-year £2 million loan, under the Coronavirus Business Interruption Loan Scheme (CBILS). Fiduciam has been a financial backer of TVR’s project to launch a new car since 2016. In March 2016 Fiduciam granted a £6m
credit facility to TVR to allow it to develop the new Griffith sports car and prepare for its production. The order book for the new car currently stands at £40m, representing one year of production. TVR’s plans were unsurprisingly delayed
by the disruption caused by Covid-19 earlier in the year. However, planning permission for an upgrade to the existing factory in Ebbw Vale, Wales has now been granted which, when complete, will bring the company another step closer to putting a new TVR on the road. Factory renovation works are expected to start this month This milestone in TVR’s comeback now sets the timescale for start of production. Les Edgar, chairman of TVR, commented: “Fiduciam has been a reliable financial
Data analytics company LendingMetrics is predicting a phenomenal spending rebound by the end of the second quarter 2021, if the brakes are taken off pent-up demand. The company, which supplies automated underwriting
platforms and borrower vetting technology to lenders, has detected record volumes of suppressed demand in its data streams. And says that UK consumers are deferring not cancelling spending decisions in large ticket areas such as holidays, cars and home improvement. David Wylie, commercial director of LendingMetrics,
David Wylie
said: ‘Tens of millions of us in the UK have had to put plans on hold, whether it be holidays, home improvements, or a new car. “We have been unable to spend money and, in the vast majority of cases,
either on full pay or on furlough pay. This has created a growing volume of deferred spending. As soon as the conditions are right, that spending is going to cascade through the economy.’ The company points to the record levels of savings and the quantity of credit
card and loan debt paid off by UK consumers, with the first lockdown alone accounted for £7.4bn paid off. It says this will free up spending space for con- sumers and further boost purchasing.
partner for TVR as we develop the new car. Raising funds is always a challenge and even more so for manufacturing projects in Covid-19 times. We appreciate that
Paradigm Mortgage Services has announced the launch of a new lender matrix outlining the approach of lenders to search indemnity insurance. The matrix is available to view for free via the Paradigm
Mortgage Services website and contains information on which lenders on Paradigm’s panel currently accept search indemnity insurance for purchase and remortgage business. In the lead-up to the end of March deadline for the
stamp duty holiday, a growing number of lenders are now accepting search indemnity insurance in order to help cases progress through to completion in a quicker timescale, allowing purchasers to benefit from the stamp duty saving. Christine Newell, Mortgage Technical Director at Paradigm Mortgage
Christine Newell
Services, said: “A growing number of lenders are either reviewing their acceptance of search indemnity policies or are already accepting them, in light of the growing delays within many Local Authority’s search departments. Each lender however also has different policies and expectations in place, and this new Paradigm lender matrix not only outlines the approach taken but provides further detail for advisers to utilise in order to progress their cases. The expectation is that the next few months in particular will be incredibly busy and we believe all advisers will benefit from access to this information in one place which is why we have made the matrix available to all.”
February 2021
www.CCRMagazine.com
Fiduciam has always been willing to roll up the sleeves to fully understand our business plan. We have endured a further delay because of Covid-19, but we are confident we are now into the final straight to commence manufacturing, with the first cars being delivered in 2022.”
The Money Advice Trust, the charity that runs National Debtline, has welcomed today’s decision from the Advertising Standards Authority to uphold complaints from the Money and Pensions Service, supported by free debt advice charities, about misleading adverts from two lead generation companies. Online adverts from National Direct
Service and Fidelitas Group were found to have misled consumers by suggesting they were associated with free, government- backed debt advice providers. In these cases, the advertisers did not have the legal permission to give debt advice at all. The charity welcomed the decision, but
warned that more needs to be done to tackle the widespread proliferation of misleading adverts online and the risk they pose to people struggling
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