Northridge Finance Review | www.niibandnorthridgefinance.com
Address: 1 Donegall Square South, Belfast, BT1 5LR.
Branding: Northridge Finance. AKA: NIIB and Northridge Finance.
FCA Licence: 464249.
From: Bank of Ireland Plc.
Launched: 1999 (1956 as NIIB).
Related: Bank of Ireland, Post Office, The AA.
Bad Credit Northridge Finance Available?: No.
Financed Vehicles: Cars.
Manage: No Northridge Finance login at www.niibandnorthridgefinance.com.
Opening Hours: Monday to Friday (9am/5pm).
Products: Hire purchase, hire purchase with balloon, loan, personal contract purchase.
Sums: Not disclosed.
Terms: As above.
No current estimate.
Notes: There are lots of gaps above that we’ll aim to complete soon. What is know will be discussed below. Whilst there is no login facility, customers can make one-off payments on the site.
The story began with NIIB who were formed in 1956. This company was purchased by Bank of Ireland back in 1984. BOI released a 2nd motoring project with Northridge in 1999. This was created to generate business in Scotland and they eventually rolled out across the entire UK in 2003. Both services merged together in early 2016. They have kept hold of their more recent name, but not for the domain that still highlights both identities. We have previously looked at BOI. For many years they have been the dominant player in Irish banking over AIB and Ulster. Their approach to the wider UK market has been to lend through major retail brokers.
This has included the Post Office and The AA has also recently joined forces. Since the financing merge only took place in 2016 it is still early days to see just which approach they’ll take in this space. We haven’t identified any brokers listing them just yet, but a few top dealers have referenced them including Arnold Clark and JCT600. There should be many more key relationships built over the coming year. In regards to the actual plans, they don’t address how much you can receive, the repayment terms, or the pricing. Many lenders in this sector don’t share info like this, but our objective will be to collect and request data as we go along.