Close Brothers Motor Finance Review | www.closemotorfinance.co.uk

Close Brothers Motor Finance

About…
Address: Roman House, Roman Road, Doncaster, DN4 5EZ.
Branding: Close Brothers Motor Finance. AKA: Close Motor Finance.
FCA Licence: 660751.
From: Close Brothers Group Plc.
Launched: 2014 (1988 as Berisford Consumer Finance Eastern).
Memberships: Non.
Related: No companies.
Website: www.closemotorfinance.co.uk.

Loan Details…
Available: Monday to Friday. Times unknown.
Bad Credit Considered: Fair-to-good score required.
Manage: Close Brothers Motor Finance login provided via www.closemotorfinance.co.uk.
Niche: Car, LCV, motorbikes.
Products: Conditional Sale, hire purchase, personal contract purchase.
Sums: £1500+ (new and returning).
Terms: 12 to 60 months.

The Pricing…
Not disclosed.

Notes: Applications are taken through brokers and dealers only. You can however service your account through the site. No contact times are mentioned for their branches. Standard working hours would be assumed. No information also surrounds product pricing. We did study several dealership partners, but they too didn’t share interest rates and so it’s likely that this lender doesn’t wish to be benchmarked against the competition. Details on financing sums is also unclear, but a dealer stated that amounts of £1500 onwards can be accessed. It was spotted that applications are determined carefully by experienced underwriters rather than reliance on credit scores. It followed that whilst they are flexible, an applicant with poor credit is likely to be declined.

Noteworthy…
– Branches: It is rare for lenders to have branch networks in this industry, but this company has 15.
– Experience: Formation of the motoring side of the business was 1988 as Berisford. They then followed in 1991 with the Close branding when Nene Credit was acquired. The latest rebrand was 2014. Their owner heads way back to the year 1878.
– Ownership: Operated by one of the leading merchant banking operations providing lending, securities trading and wealth management services. They employ around 2800 staff and are a member of the FTSE 250 that highlights this experienced Group’s prominence.
– Network: The dealership count of 8000 is the highest tally that we have seen in the sector.
– Profile: Search engine data showed high web popularity. They are most well known under their previous trading name (Close Motor Finance), but they are quite popular through their new identity. Their market experience has aided growth, but the key ground has been made through partnerships with 8000 dealerships. There are many smaller independents joined on to the network, although Arnold Clark has been a key partner.

Updates…
– Name change took place on November 1st 2014.

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