The New AR Regime – NACFB Magazine
The New AR Regime Brokerplan Academy / White Rose Finance’s MD John Kent appeared in this month’s edition of the NACFB’s Commercial Broker magazine. The article covered the Financial Conduct Authority’s new AR regime and its impacts on brokers. Read Full Article
£300k Secured Business Loan
£300k Secured Business Loan One of our Brokerplan network partners, Barbara Cação of CC Finance has recently closed a £300,000 business loan. They were approached by a client who had successfully launched a hotel in 2018 and was in the process of expanding into an adjacent premise – However, needed to cover the remaining costs of this expansion. The new premise had building works and fit out that had to be completed before opening, with the client struggling to find a lender who would support these costs of works. Security was available but ideally only as a 2nd charge to sit behind an existing commercial mortgage – with a full refinance deemed too expensive. Barbara Cação, Director of CC Finance said, ‘When approaching a specialist lender to fund the soft assets for the fit out it turned out they had an appetite to fund the entire deal, not least because we had shared a comprehensive narrative of the client’s funding requirement. Consequently, this not only enabled a maximum loan amount for the client but also boosted time to completion.’ A facility was found and put into place that met the following client requirements: A 2nd charge on the commercial premise as a repayment facility over 5 years. No charge on the client’s personal property. No re-valuation needed on the commercial property (existing report acceptable) Flexibility offered despite some adverse credit in the background of the company and an insolvent balance sheet An APR of just over 15% with a 0.5% arrangement fee. Speed – the facility was put into place within 4 weeks
Brokerplan Receives Official LIBF Accreditation
Brokerplan Receives Official LIBF Accreditation The Brokerplan Academy has been recognized by The London Institute of Banking & Finance by being LIBF accreditation. The Brokerplan programme was established in 2014 to provide a back-office support structure for network partners to operate as commercial finance brokers as appointed representatives (ARs) of the White Rose Finance Group network. The LIBF accreditation relates to the Brokerplan Academy training programme and recognises its significance in raising standards in the finance sector as well as the shared values of both the Academy and the Institute. John Kent, BP Academy MD said, “Brokerplan was initially created to provide the tools of the trade including FCA authorization, access to lenders and packaging support. However, it became obvious that the better the education and support provided, the more successful our ARs have been. In 2020 we launched the Brokerplan Academy incorporating our learning and development programme. The accreditation is the result of our growing partnership with the LIBF. I had been working with John Somerville, at LIBF, on a separate project and we realised our values and intended outcomes were aligned.” “Professional finance brokers want to ensure their clients receive the best advice and funding solutions available from across the market,” said John Somerville, Head of Financial Services at LIBF. “All our accredited programmes are geared towards raising professional standards and treating customers fairly. The Brokerplan Academy programme has been created with that outcome in mind, it’s delivered and assessed professionally and employs sound policies and procedures. We are delighted to be able to endorse this exceptional learning and development plan.” The programme is a blended experience designed to help both existing brokers and those new to the sector to establish and build their brokerage. The course includes elements of both online and classroom training from the White Rose offices in North Yorkshire. All aspects of commercial finance are covered including compliance and regulation, property finance and working capital product knowledge as well as sales and marketing, relationship building, social media, professional introducer relationships and business development. Ongoing support is provided on a bespoke basis and includes quarterly reviews, regular lender and group webinars, refresher training and personal support as required. For more information on the Brokerplan Academy please call 0333 405 6666 or email John Kent at john@brokerplan.co.uk Best broker network bar none! Having previous experience of a broker network I can positively say that Brokerplan is by far the best broker network. The course was engaging, informative, and extremely helpful. The cohort was made up of people from varying backgrounds and timelines in their commercial brokerages. For those that are considering starting their own finance brokerage with no previous business experience – this is the course for you. After a two day course you will leave here with a business plan, a marketing plan, a panel of lenders, system and processes, a head filled with positive thoughts, and a burning desire to help your customers achieve their financial goals. I can’t praise them enough for the time and effort they have put into the course. Thanks for the experience. Robert Partridge
December Launch Training
December Launch Training Brokerplan Academy held our business launch training at our head offices in Selby this week. Eight new trainees attended, some brand new brokers and some professionals expanding their brokerage. Pictured are the trainees with Training Manager Andy Boycott who heads up the course. See some TrustPilot reviews below from the attendees. Best broker network bar none! Having previous experience of a broker network I can positively say that Brokerplan is by far the best broker network. The course was engaging, informative, and extremely helpful. The cohort was made up of people from varying backgrounds and timelines in their commercial brokerages. For those that are considering starting their own finance brokerage with no previous business experience – this is the course for you. After a two day course you will leave here with a business plan, a marketing plan, a panel of lenders, system and processes, a head filled with positive thoughts, and a burning desire to help your customers achieve their financial goals. I can’t praise them enough for the time and effort they have put into the course. Thanks for the experience. Robert Partridge Having attended the broker plan course… Having attended the broker plan course to become a commercial partner, i found the course very beneficial and believe the information and knowledge gained whilst on course will be very beneficial going forward. K Carlile I can highly recomend them! They have made setting up business for me as easy as possible. I could recomend them without any hesitation anyone needing this kind of service. Daniel Szulgan Very helpful and professional Azhar Khan Trustpilot
Welcome to the Team Nicola & Kevin
Welcome to the Team Nicola & Kevin Nicola Lamming Business Development Manager I have recently joined Brokerplan/White Rose Finance Group Ltd as Business Development Manager to build and maintain relationships for our Academy offering. This is bringing Brokers into our Network to write Commercial and regulated deals through our panel of lenders with the help and support of our in house Relationship Managers. Previously I worked in Recruitment, Recruiting staff across all Industry Sectors and White Rose was one of my clients. When looking for a new role I felt White Rose had the values, transparency and ethics I was looking for in an Employer, so it was no brainer for me joining the team. Kevin Morris Compliance Officer Drawing on 40 years plus financial services experience from roles within Banking, Building Societies, Financial Services Product Providers, International Training Bodies, Consultancy and not least as an IFA Principal, enables me to embrace the regulatory challenges laid down by the FCA from a well-rounded perspective. I am excited to be joining Brokerplan / White Rose Finance Group Ltd and in particular, help to embed the New Appointed Representative and Consumer Duty Regimes into our business.
£350k for Trucking and Repair Company
£350k for Trucking & Repair Company Invoice Finance Facility Network partner David Meacher-Jones of Dee Commercial Finance has recently completed on the transfer of an invoice finance facility from a high street bank, which restricted the lend on invoices to a number of key customers. The client also had another offer on the table from an alternative provider who lends at the required levels. We found another provider whose rate wasn’t the cheaper but the cost savings came through the service fee which would save the client c£6k p/a. This lender also bettered the high street in a number of other key areas. Increasing the maximum funding limit for drawdowns. Increased the number of factored accounts. Generated circa £50k of increased funding on day 1. Bettered the existing Lloyds pricing structure. Assisted them with an early exit by offering up to 3 months free on their new facility. It’s worth noting that with Invoice Finance as there are a number of other fees included, it isn’t always about the rate – There are a number of different reasons that people want to switch. So it is always worth understanding why the clients aren’t happy or what they are looking for in the facility.
Leicester Discovery Day
Leicester Discovery Day Brokerplan Academy held a discovery day in Leicester earlier this week at the Cambridge & Counties Bank offices. We usually hold discovery days at our head offices in Selby, North Yorkshire – But occasionally we are hosted by one of our lenders across the UK. The events are a great way to see the team in action and learn more about the Academy, our systems, training and support. You can register for any of our virtual webinars and in-person events by visiting our Upcoming Events page.
October Network Deals
Brokerplan Network Deals £100,000 Commercial Loan Brokerplan network partner Bill Myhill of Jupiter Commercial Finance recently funded a £100k commercial loan facility. The client was a long-established business that had received a large corporation tax bill. This is just another way we have managed to help a client when unexpected bills arise and clients wanting to keep hold of cash reserves – we were able to structure this deal over 1 year which has given this client flexibility to be able to pay the bill off. £6.8 Million+ Residential Portfolio Refinance Network partner Darren Peacock of Peacock finance recently completed on residential portfolio refinance and capital raise of £6,886,750 with YBS Commercial Mortgages at 3.05%. £100,000+ SASS Pension Commercial Mortgage Network partner Michael Hughes of Complete Finance recently completed on a commercial mortgage for a pension scheme. The purpose of the loan was to transfer the client’s owner-occupied commercial premises into their pension scheme. The lender chosen in this case was Natwest Bank who provided a 20-year loan, for £100,000 plus fees added to the loan.
Brokerplan Recent Completed Deals
Brokerplan Network Deals £657,000 Development Site Brokerplan network partner Vast Commercial Finance have successfully raised funds for their client to purchase a development site in South London. The £657,000 deal was placed with United Trust Bank Limited. £60,000 Cashflow Facility Network partner Bowman Finance recently completed on a £60k cashflow facility with Iwoca, the deal was an unsecured capital & interest cashflow facility. The client was a family history research company that required funds very quickly to meet a redemption deadline with their existing lender and to inject cashflow into the business for expansion. £500,000 Commercial Loan Network partner STAG Capital Finance has completed on an commercial loan to fund the development of an industrial site plot and expansion of an existing self-storage facility. When complete this will generate an additional gross income of £60k per annum for the client. This deal was placed with Cambridge & Counties Bank.
Brokerplan Network Deals
Brokerplan Network Deals £340,000 Short-Term Bridging 2nd charge for a hotel on the south coast to expand its room offering by adding serviced apartments into the basement. The deal was handled very efficiently by Reward Finance Group and the client went away happy after months of frustration with their existing lender. £1.6M Commercial Mortgage One of our network partners Capital Sterling has recently completed on a £1.69m commercial mortgage with Aldermore Bank across a portfolio of retail assets for their client. £380,000+ Asset Finance One of our partners Andy Kerr has successfully raised £386,100 for their client to purchase an excavator. The vehicle was originally a german registration but situated in the UK, lender Investec completed on the deal prior to UK registration.
