Hi the facility is to provide the stocking of motor vehicles. Each item of stock is signed up on an individual agreement & registered with H P I &Equifax as a consumer credit arrangement.
Hi ,a director of the company signs the agreement.The total of the facility offered is £500.000.
Hi,the agreement is in the name of the company & the director signs on its behalf. Once the vehicle is sold the agreement is settled by the borrower. I will be away from my desk for about an hour but will be back by 11am. Many thanks.
Hi, my concern is under the act this form of agreement is intended to protect the consumer .Commercial stock funding by this means appears irregular to me and I am worried that it may not be safe. Kind Regards.
Hi many thanks for your prompt reply which has eased my concerns & I can now look further into the lenders proposition. Once again many thanks Geoff.