Financial support for BHF-BSSA members.

From http://www.bhf-finance.co.uk/news.htm [01/11/2010]
Just to put it into context, the UK Government has provided nearly £1Trillion of support to the banking sector since the start of the financial crisis which is more than half of the entire annual economic output of the UK. Without bank lending increasing significantly, there were fears that there was no hope for a full economic recovery. Are banks lending more as a result? No, in fact they are lending less.As big banks are adopting a much more cautious approach to lending these days and have greatly suppressed their appetite for risk, the cost of borrowing has climbed as many BHF-BSSA members know to their disadvantage.
Some big banks will happily produce misleading league tables showing them to be top of the Price Comparison League Tables based on their headline rates but few people qualify for them as “the actual rate we offer may be higher depending on our assessment of your personal circumstances and financial behavior”. For BHF-BSSA members, there is one rate only and it is a fixed and competitive rate. All of our personal loans are at fixed rates which means that you know exactly what you’ll be paying for the duration of the loan which, in these uncertain times, is reassuring. In addition, to keep costs down, banks are driving applicants online but this means that the application will appear on your credit history. An application to BHF Finance does not go on record as it is a personal matter between the member and the Trade Association.
BHF Finance is a registered bank and is unfairly caught by the onerous, new banking regulations from which there is no escape. The latest Bank League Tables published by Searchline rightly show that we are one of the smallest banks in the country at number 153 out of 155 on the Value of Assets table. However, when it comes to measuring the financial strength of the Bank then we move up to number 21 on the Capital to Assets table. What a shame it is that we are penalised for being well structured and well managed. Our profitability will be challenged further by the additional costs of complying with these regulations .To be able to absorb these increased costs we need as many members to use the service as possible. Why not give one of the BHF Finance team a call on T: 0121 446 6688 or visit www.bhf-finance.co.uk and see if we can help?