All posts by Nicholas Murphy

NACFB partners with PwC for commercial lending survey

Many of you will know that the Association used to undertake an annual member survey to assess the volume of business which was originated through both our Members and Patrons.

We didn’t continue with this in 2017 because we wanted to be sure that the data that we were collecting, and sharing was statistically robust. Over the last six months we have shared with you my plans to re-energise this process by surveying Patron lending activity rather than asking our broker Members. I have been heartened by the comprehensive support I have received from Patrons wishing to contribute to a replacement process, so I am now pleased to be launching the first survey adopting this revised approach.

The NACFB holds a privileged position, in that from our vantage point we see our broker Members engage with you, our Patrons, partnering the most dynamic, innovative and valued lenders and individuals operating in the UK commercial finance space. Such a position enables us to accurately capture the most comprehensive snapshot of UK lending activity, invaluable data that will inform your strategic planning.

Allow me to start by establishing our approach:

  • I have engaged PwC to help with this exercise. They will be acting independently and understand that all contributions must remain anonymous. The Association will never see any individual returns. They will be sent direct to PwC and we will only ever see the aggregated output.
  • To further preserve anonymity, I have also recommended that publication of the data can only proceed if a sufficient volume of Patrons complete the survey to allow reliable and comprehensive analysis.
  • I am also proposing that all contributors will receive a high-level summary of the findings before we publish the survey results. This would be on the condition that the Association are allowed time to issue their own press release on the survey outcome.
  • This survey will cover activity for the first half of 2018. If it is a success, the plan will be to run this at least on an annual basis so that we can capture a full calendar year.
  • PwC will deliver a data dashboard to be held under licence by the Association and subject to the conditions of anonymity, we will be able to interrogate the data on behalf of any Patron wanting to see the results through a requested lens e.g. products by region or loan type.

I hope that you agree that this approach is a fair and balanced way to proceed. Here is the process that you need to follow:

  1. Click to download the NACFB Lender Survey 2018  template, upon completion return to PwC via:
  2. We have allowed four weeks for you to undertake the data collection process so please work on providing the return by Friday 21st September. 
  3. The template is self-explanatory with many drop down boxes. If some of the descriptions do not fit with your data capture, all we ask is that you employ best endeavours to complete the return. In the unlikely event that you require some assistance with the return you can call Anne-Marie Brennan on 07802 658980 or Adeel Ahmad on 07946 652795.
  4. Assuming we receive the required number of returns within the timescale, it is anticipated that the output will be available for sharing in the week commencing 24th September.

I strongly encourage all NACFB Patrons to contribute because this will provide all of us with a great opportunity to demonstrate the real value that our community is contributing to funding SME business in the UK.

This project will only be as successful as the data we obtain, so I ask you to partner with us on this journey to ensure that when we champion our sector at the highest levels we do so with as clear and as accurate a picture as possible.

We look forward to working with you and sharing such vital data upon completion.

Graham Toy

Join the NACFB this November at the Commercial Finance Conference 2018

The NACFB is partnering with Credit Strategy to support the Commercial Finance Conference which will also host our AGM on Thursday 8th November.

The Commercial Finance Conference will form one of three strands at the Lending Summit 2018 hosted a London’s Hilton Bankside. The Lending Summit is the UK’s first 360-degree forum for senior professionals and advisors in the consumer, commercial and corporate lending spaces.

The Commercial Finance Conference’s agenda will feature guest speakers, panel sessions and host the NACFB’s Annual General Meeting. Find out more, and book your attendance at an exclusively discounted rate for both NACFB Members and Patrons, here.  

Register to attend the Commercial Finance Conference today. 

Become a Broker Sponsor at the NACFB Awards 2018

The NACFB Gala Dinner and Awards Ceremony returns to the Park Plaza Westminster for the fifth year on 29th November 2018.
The Awards Ceremony provides an opportunity to recognise the most dynamic and valued lenders and individuals operating in the UK commercial finance space.

Each one of the fifteen award categories reflect a key aspect of the modern finance world, recognising innovation, stand-out lenders and new market entrants. 
We are offering NACFB broker firms the exclusive opportunity to sponsor a category from this year’s event. Award sponsorship enables your brokerage to be synonymous with the very best lenders in our community. 

The award sponsorship package includes:

  • Promotion of your brokerage:
    • On the Award Submission Form sent to all NACFB Patrons
    • Exposure online and in print – both before and after the event
    • At the event itself, on the screens, tables and in the event guide
    • As well as your logo and name engraved on the trophy
  • The sponsoring brokerage will also present the award to the winning lender on the night
The Award sponsor package is open to any NACFB brokerage and is priced at £750 + VAT
You can find out more – or secure your sponsorship slot – by emailing me on or by ringing 020 7101 0359
Please find below the full list of categories for this year’s NACFB Awards Ceremony: 
  • Buy to Let Lender of the Year
  • Leasing & Asset Provider of the Year
  • Development Lender of the Year
  • Business Bank of the Year
  • Commercial Mortgage Lender of the Year
  • Factor & Invoice Discounter of the Year
  • Most Innovative Lender of the Year
  • Short Term Lender of the Year  
  • Small Funder of the Year
  • Specialist Lender of the Year  
  • Vehicle Finance Provider of the Year
  • Newcomer/New Entrant of the Year
The event commences with a drinks reception at 6.30pm, followed by a three-course meal and the awards ceremony. As always, following the awards ceremony, there will be an after party with live music and entertainment.


Norman Chambers 
Managing Director


Patrons: Please note Award Submission Forms will be circulated, with additional award categories, in late August.  



Supporting the NACFB Magazine in 2019


As you will be aware, from January 2019 the NACFB Magazine will be brought in-house and we will no longer be partnering with our current suppliers.

We arrived at this decision for a number of reasons, chief among which was our desire to ensure greater editorial control whilst raising the bar for content in the form of high-calibre thought leadership. As a non-profit trade body, the magazine is not designed to be an income generator for the Association, we want to elevate the magazine and secure its position as a platform for the best industry insight from lenders and brokers alike.

In the coming days, our trusted partners at R&R Events will begin approaching you and your marketing teams to ascertain your interest in supporting the NACFB Magazine and outline the range of packages available to you.


You can also enquire directly via the below contact details:


t: 0845 0043169


I am asking you – as valued Patrons – to support the magazine not just in the form of advertising, but also by sharing with us your expert insight, detailed knowledge and industry experience in the form of thought-leadership and feature articles.


NACFB Patrons will receive a reduced advertising rate and we have inbuilt flexibility into the rate card rate card for longer term contracts.

All thought leadership pieces from NACFB Patrons will remain at no cost, although more overtly advertorial and self-promoting pieces will incur a fee as outlined in the rate card.

The NACFB Magazine offers unrivalled access to a captive market of the UK’s commercial finance broker market and I am calling upon you, as the UK’s most dynamic lenders, to join on this journey to guarantee our new look magazine’s success.

Thank you in advance for your continued support and for helping us champion the commercial finance community.

We look forward to your engagement with our refreshed magazine.

Graham Toy

NACFB joins the Women in Finance Charter

The NACFB has become the first trade body in the commercial finance sector to sign up to the Treasury’s Women in Finance Charter.

The Treasury announced the NACFB’s inclusion as part of a tranche of a further 67 companies who have signed up to the Charter, which aims to tackle gender inequality in senior roles.

The NACFB is proud to stand alongside our Patrons, many of whom have already signed up as we join over 270 signatories to the Charter, which now covers over 760,000 financial services employees in the UK.

The Women in Finance Charter asks firms to commit to four industry actions to prepare their female talent for leadership positions.

These include setting internal targets for gender diversity in senior management roles and publishing our progress annually against these targets in reports on the NACFB website.

NACFB CEO Graham Toy said of the announcement “We are delighted to have joined more than 270 companies who have committed to HM Treasury’s Women in Finance Charter.

Adding “Gender equality and diversity is integral to creating a fairer, more prosperous society. Whilst there’s still some way to go across the wider sector, we are proud to be part of a modern trade Association that is taking steps to be part of the solution.” 


Learn more about the Women in Finance Charter in the NACFB Magazine. 

Introducing: The NACFB Patrons Charter


We are delighted to announce the introduction of the NACFB Patrons Charter. The Charter, produced in consultation with lenders, outlines the professional expectations that come with NACFB Patronage.

NACFB Brokers already adhere to the NACFB Code of Practice which establishes a set of principles and professional standards for intermediaries in the commercial finance sector. The Association supports brokers on their compliance with this Code through the use of a ‘Minimum Standards’ scorecard.

Whilst a Patrons Code of Practice would be inappropriate, we have launched the Charter and will ask all Patrons to acknowledge its content as part of their involvement with the NACFB.

The objective of the Charter is to formally recognise that the aim of any collaboration between NACFB Brokers and Patrons is to maintain and promote business relationships for the mutual benefit of client firms. 

The Charter forms part of our efforts to promote the advancement of professional standards throughout the wider commercial finance industry by:


  • Encouraging professional and social interaction between Brokers and Patrons
  • Encouraging brokers to consider the products and funding options of Patron firms when appropriate to meet the needs of their clients
  • Achieving recognition by Government, lenders, other professional bodies, the business community and the public, of the strength of this collaboration and mutual professional standards


 The NACFB Patrons Charter

 Patrons acknowledge the provisions of the Constitution of the Association:

  1. Patrons acknowledge the NACFB Code of Practice which lays out the framework under which brokers are expected to conduct their business.
  2. Patrons recognise that the NACFB logo is a marque that stands for integrity, professionalism, conduct and practice that is expected of the Association’s Patrons and Members for the further protection of the consumer.
  3. Patrons recognise the importance of conduct in the market place and the standards expected by regulators and the context of this in building robust reputations as well as SME and consumer confidence.
  4. Patrons recognise the benefits of appropriate levels of due diligence when it comes to accepting introductions from intermediaries, understanding the regulatory requirements of this activity.
  5. Patrons recognise the benefits of an open and honest relationship with the Association and its Members as well as the appropriate regulatory bodies.
  6. Patrons recognise the benefit of dealing with brokers and clients with the utmost good faith and with a standard of competence, fairness and courtesy.
  7. Patrons recognise the value of training and education and whenever possible contribute to the raising of professional standards in the commercial finance sector.
  8. In becoming a Patron of the NACFB you are prepared to adopt and uphold this charter.

NACFB & FLA Joint Statement – GDPR and the broking process


The National Association of Commercial Finance Brokers (NACFB) has issued a joint statement with The Finance & Leasing Association (FLA) outlining a unified interpretation of how the broking process is impacted by the General Data Protection Regulations (GDPR).

The statement, from two of the largest and most established trade bodies operating in commercial finance sector, confirms a consistent and allied interpretation of the GDPR, specifically on the implementation and use of Privacy Notices.

The joint statement has been arrived at after consulting members, lenders and the regulator and forms part of ongoing efforts by both Associations to safeguard all Member’s interests.


GDPR Statement for Funders and Brokers

This statement has been prepared as guidance for brokers to consider when they act as a finance intermediary. This statement does not constitute legal advice and is intended to inform rather than replace any implementation plans you have in place based on your interpretation of the regulation. If you require clarification in relation to any matters referred to in this document we recommend you seek independent legal advice.

The General Data Protection Regulation (GDPR) came into effect on 25 May 2018. Firms which are already complying properly with the current data protection legislation will be largely compliant with the new Regulation. The GDPR does, however, place greater emphasis on the documentation that controllers must keep to demonstrate their accountability.


Privacy notices

While the GDPR does permit privacy notices to refer to ‘categories’ of recipients of the individual’s information, rather than necessarily named recipients, this possibility has to be considered alongside the Regulation’s overall requirement that information be handled fairly and transparently. This is a high bar.

Consistent with this, the ICO’s view is therefore that the most practical solution is for the intermediary’s privacy notice to summarise the key points that appear in finance providers’ privacy notice and explain why the individual’s information is being passed to finance providers, with individuals then being directed to finance providers’ websites where their own privacy notices can be read.

The inclusion of links to finance providers’ information is however not mandatory and it is for firms to consider the most appropriate approach for their organisations and customers.

Please note that, the intermediary’s privacy notice should be provided to the individual at the time you obtain their data from them.

It should be remembered that some individuals may not have access to, or be able to use, digital sources. Intermediaries should therefore ensure that such individuals are able to access the privacy information by alternative means, for example by telephone or verbally: see the ICO’s guidance on how to deliver privacy notices for further information on this. It should also be remembered that, if the individual’s data is going to be handled differently in some way, then this should be clearly explained to them. In some cases, lenders may ask intermediaries to have copies of certain information available, should a customer need a paper copy. One example is the Credit Reference Agency Information Notice (CRAIN). Lenders will let intermediaries know where this is the case.

NACFB expands into new office

The NACFB headquarters is on the move after six years at Hamilton House. On Tuesday 26th June we are moving to:

33 Eastcheap, London, EC3M 1DT


Not a dramatic move geographically, but an important one nonetheless. I am keen to outline to you both why we have made this decision and how this will benefit the Association.

Hamilton House is a serviced office located in a building of some external charm on the Embankment, but once inside the premises do not stand up well to scrutiny. They are not fit for our purpose and certainly do not contribute to our plans of running an efficient Member Association with the best people in a pleasant and safe environment.

In addition, a planned sale of the building by the current landlords accentuated the potential operational risk of having only two months security of tenure. So, it was time to look for somewhere new.

At 33 Eastcheap we have secured office space that enables the whole team to work together in one room with some capacity to grow. We have a separate meeting room where we can run events rather than hiring external facilities. The building has been newly refurbished and so it is a modern environment demonstrating our passion to invest in our people. We have a 10-year lease, so we have the security of knowing we can focus on our objectives without worrying about a roof over our head.

Bank, Monument, Fenchurch Street, Tower Gateway, Tower Hill, Liverpool Street and London Bridge stations are also within a short walk away from the Eastcheap offices.

Our current telephone number will remain the same and the team will endeavour to deal with any Membership enquiries seamlessly throughout the move.

Please do bear with us on the day of the move because there will be a period of time when we will not have access to emails or phones. We shall ensure that a suitable out of office message is delivered on the day.

Thank you for your accommodation and support.

Graham Toy







GDPR – A Broker’s Guide

The NACFB Compliance team have put together a guide for Brokers examining the changes that the General Data Protection Regulation (GDPR) has on your business practices. This downloadable guide sets out the new definitions and requirements that will impact on the Client/Broker/Lender relationship in respect of the Commercial Finance Deal.

Data protection is not a new concept – you are already registered with the Information Commissioner’s Office, the organisation that regulates Data Protection and will already be complying with Data Protection Act requirements.

However, times have changed, and due mainly to the digital world in which we live in financial crime levels have escalated enormously. The relevant bodies have determined that the protection of peoples’ information needs to be increased to match the threats presented.

The new guidance provided will allow your firm to better understand the new regulations and focuses on these three main areas:

This downloadable guide includes a schematic of the Commercial Finance Deal, the aim of which is to encourage uniformity in the industry and provide clarity around the responsibilities of both Brokers and Lender, this should be used for reference only. Please download this guide here.