The National Association of Finance Brokers (NACFB) is meeting in June this year to discuss financial regulations and alternate lending.
The NACFB Conference is part of the Commercial Finance Expo which takes place at the NEC, Birmingham on June 21, 2017.
The NACFB, over the last three years, has supported its members in conforming to the Financial Conduct Authority (FCA) regulations. It has produced a minimum standards document that all members of the association are expected to follow.
Many finance brokers are dealing with what is known as ‘alternative lenders’ offering loans that are different to the traditional ones available from high street banks. These include many specialist bridging loan lenders. Alternative lenders are generally more flexible than high street banks, with bridging loan applications are judged on a case-by-case basis rather than applying the strict lending criteria that many large lenders use.
The NACFB conference is hosting a discussion on the present and future state of alternative lending. Many high street banks are now offering loan products similar to alternative lending, and some alternative lenders are offering more traditional lending products. This means that the difference between traditional and alternative lenders is not as clear cut as it used to be.
Most alternate lenders are regulated by the FCA to protect lenders and ensure standardisation. Financial brokers are also regulated by the FCA to make sure that they conduct their business in an ethical manner and provide the best advice and customer service.