By Adam Tyler, chief executive officer of the National Association of Commercial Finance Brokers
Last week the NACFB announced the welcome return of the RBS Group under two discrete banners, RBS and NatWest.
It was appropriate to make this announcement during the voting process at our annual general meeting on 6 November, because it represents a huge vote of confidence from major lenders.
Both RBS and NWB have teams set up under each brand to receive leads. There will be initially 50 brokers exclusively from the NACFB, and they will be providing leads for commercial mortgages only. This opportunity is due to be offered to more commercial mortgage brokers at a later date.
The Financial Conduct Authority’s vision for the future of our industry was a big topic of discussion at our AGM, which we held at the Finance Professional Show.
The FCA are going to change the way we work, and when our members ask us what the commercial finance environment is going to be like in 2014 and what the FCA will change, we can only say “watch this space”.
Rather than viewing this as unhelpful vagueness, read it as a reassurance that nothing is set in stone yet and we still have the power to influence things.
Remember that the NACFB is made up of a board of practising, experienced brokers. We know what’s going to seem reasonable, and what isn’t, so we can give feedback to the FCA from the perspective of our members.
Right now, everyone needs to be applying for an interim licence as soon as possible, because any broker who hasn’t got one by 1 April - in the words of one of our directors - might as well not get out of bed.
With 94 funders now working with us, the RBS Group and CIT Vendor Finance among them, there’s a palpable willingness to lend as you could see at the Finance Professional Show.
We won't necessarily be celebrating when we hit the milestone of 100 lenders, because we believe quality is more important than quantity.
If you missed the show, you missed an exceptionally busy day that never got quiet.
And it isn’t too early to book for next year’s Commercial Finance Expo on June 25, - at least that’s what our accounts team are telling me.
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