As mortgage brokers and lenders prepare to shell out their annual fees to the Financial Conduct Authority (FCA), Premium Credit is stepping in with a plan to alleviate some financial pressure.
They are offering a finance facility allowing firms to pay these fees in manageable monthly instalments rather than a single lump sum, aiding cash flow preservation during these challenging times.
This payment scheme is not new; last year, Premium Credit provided the same opportunity to over 2,000 regulated businesses. Given the ongoing market strain, they anticipate similar or increased demand this year as firms scramble to manage their cash flow effectively.
“Our credit facility remains a cost-competitive and convenient means for regulated businesses to pay their FCA fees over monthly instalments,” said Nigel Stewart, sales director – sports, professions & leisure – Premium Credit, specialist lending. “At a time when finances are under considerable pressure it can be a strong alternative compared to other forms of credit.”
Stewart added: “It’s a simple digital application process and with years of significant investment in technology, we ensure the whole customer journey is a smooth, seamless process – we as the lender undertake the bulk of the administration.”
