News

Why do I need to use a Commercial Finance Broker?

Funding

A great question to ask as you really do need to understand the benefits of using a Commercial Finance Broker when applying for any form of funding.    Often business owners will default to speaking to their existing bank when it comes to funding needs and historically it’s been...

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Second charge loans rose in fourth quarter

Uncategorized

New research shows the split between first and second legal charge bridging loans remained consistent in the first three quarters of 2019. However, in Q4 2019, second charge loans rose to their highest level of 23% (Q3 2019: 18.4%). The 2019 Bridging Trends reported that second charge loans accounted...

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SME tax estimate tool launched

Tax

Counting, the SME banking and accounting app, has added a tax estimate tool to its business current account. For self-employed sole traders, the tool provides a real-time estimate of how much Income Tax and National Insurance is owed under Self-Assessment. For limited companies, the tool provides a real-time estimate...

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UK borrowing falls

Uncategorized

UK government borrowing in December was less than expected, at £4.8bn, and down £0.2bn compared to the same month a year earlier, according to the latest figures from the Office for National Statistics (ONS). As chancellor Sajid Javid prepares to boost spending in his March Budget, for the financial...

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Let-to-buy loans rise in popularity

Property

A relatively unknown type of mortgage that allows families to move into a new home without selling their existing property is growing in popularity, as many struggle to shift their homes. Mortgage broker Trinity Financial has reported a 15% increase in the sale of “let-to-buy” mortgages in the past...

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SMEs owed £50bn in late payments

Finance

New research from digital banking platform Tide revealed that UK SMEs are chasing an estimated £50bn in late payments with the average small business chasing five outstanding invoices at once, wasting an hour and a half every day. London-based businesses are the hardest hit with an average of seven...

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Retailers braced for impact of gift returns

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Royal Mail expects 2 January, the first working day of the year for postal workers in the UK, to have been the busiest for returning unwanted Christmas gifts. Returns on “Takeback Thursday” were expected to be 72% higher than the average day in December. It said most people will send...

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UK manufacturers struggle at the end of 2019

Economy

The end of 2019 saw UK manufacturers hit by one of their harshest months for a decade as political turmoil put pressure on the industry, according to the IHS Markit/CIPS manufacturing Purchasing Managers’ Index. The index fell from 48.9 in November to 47.5 in December. Some economists have expressed...

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