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Find all the latest press releases here along with contact details for NACFB representatives if you would like comment on any area of the commercial finance industry. You can also sign up to our mailing list to receive e-mail updates.
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The NACFB is the only UK trade body dedicated to the commercial finance broker. We represent members from across the whole commercial finance market: from buy-to-let specialists and commercial mortgage advisers to vehicle finance brokers; from leasing and asset finance specialists to factoring brokers. All NACFB members comply with an industry recognised Code of Practice
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Consultation period for Commission disclosure debate

28th September 2007

We have been following this case with great interest on our members behalf, I can report that the House of Lords refused to give leave to appeal, so the judgement from the Court of Appeal stands. During the Regional Workshops, Compliance Forum, detailed above, and also at a further meeting of smaller niche lenders, we have raised the subject of Disclosure. We have had the opportunity to discuss in detail and take part in Q&A sessions with members at the recent Regional Workshops.

We are still in a consultative period. Preliminary advice has been given and pending a formal deliberation of the response to be made to the decision, members whose practice is not to disclose lenders’ commission have been advised to seek their own legal advice as to how they should proceed.

The Association is currently engaged in a consultation process to gauge both members’ and lenders’ views on the subject of commission disclosure. If you wish to make a contribution to the consultation, please put your points in writing to Adam Tyler at the NACFB head office, 17 Gandy Street, Exeter EX4 3LS.

Look forward to hearing from you!

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