London & Surrey Motor Finance Review | www.lsmf.co.uk
Address: 2-3 Rectory Lane, Woodmansterne, Banstead, SM7 3PP.
Branding: London & Surrey Motor Finance. AKA: London and Surrey Finance, LSMF.
FCA Licence: 668758.
From: London & Surrey Motor Finance Ltd.
Launched: 1972 (1997 as a lender).
Memberships: CCTA, FLA.
Related: No companies.
Available: Monday to Friday (9am/5.30pm), Saturday (10am/4pm).
Bad Credit Considered: Yes.
Manage: No London & Surrey Motor Finance login at www.lsmf.co.uk.
Products: Hire purchase.
Terms: 12 to 60 months.
32% to 38% APR
Notes: Direct applications are taken although they don’t encrypt their form. This lender’s main approach has been to attract new business through partnered dealerships across London and further south. The main noteworthy service points are their experience and multi-memberships. There isn’t much to discuss other than those areas and so we’ll conclude the profile with some background information.
LSMF has bags of industry experienced behind them. They had originally opened up as a broker in 1972. It is not clear at this time which identity they originally operated as. Anyway, we are not aware of any broker that dates back further than 1972. This beats DSG Finance by a good distance who were formed in 1988. The decision to lend out of their own pocket came when they adapted in the year of 1997. Since this time they have offered a specialised subprime hire purchase product to dealerships across their local region. No network data is provided, but there should be around 100 dealerships partnered up.
The main headed representative APR is 35.27%. However, their calculator displayed the range of 32% to 38%. It is always good to see double trade association memberships held as is seen here with the CCTA and the FLA. They operate on Saturdays for 8 hours and the option is there to quickly apply on their website. From what we can gather, they have been performing well across the south over the years, but there has strangely never been a big nationwide push. The natural next step would be for them to build relationships with leading brokers in the space. Expansion in this area would be key if they are intent on challenging the big subprime firms such as First Response and Moneybarn.