Managing Finance Agencies

Over time, changes in regulating the Financial Services Industry has meant that Lenders and Intermediaries such as ourselves are having to spend more time and resources overseeing the activities of those offering finance.

Both we and the lenders are happy to do this where the facilities are being regularly used, as is the case with most practices, but we are having to become far more ‘commercial’ in considering on-going support where the facility is not used.

Quite apart from anything else it is frustrating for us to hear from practices that patients often leave ‘to think about it’, only to be told in the next breath ‘that there doesn’t seem to be much demand for finance’. This is of course contrary to the large number of practices who use finance regularly and see the benefits that finance can bring.

So, we do need the ‘non-users’ to be aware that our Lenders are now looking to suspend or close finance agencies where finance transactions are minimal.

In such cases and where we are providing assistance with a practice’s FCA annual reporting then we will be obliged to re-assign this to the practice.

Of course, we would prefer that you use the finance facilities and reap the benefits of doing so.

If you require further assistance in this respect please let us know and we will be pleased to help.