It has been brought to our attention that a scam loans company called Loan4Help has been committing fraud by claiming to offer or advance “loans” to borrowers whilst pretending to be a trading company of Finance and Credit Corporation Limited. It is not. Loan4Help has absolutely no connection to Finance and Credit Corporation Limited.

It has also come to our attention that a third party has been contacting borrowers on a fraudulent basis by purporting to be Finance and Credit Corporation Limited and claiming to offer or advance “loans” to borrowers. This third party has been contacting borrowers on an unsolicited basis via the following email address: . Please note that our company Finance and Credit Corporation Limited is in no way connected with the third party and does not use or operate that email address.

These operations have been cold calling and emailing members of the public, fraudulently pretending to be or to be connected with Finance and Credit Corporation Limited, asking for upfront fees from borrowers and advancing monies in relation to purported “loans”. They have also sent documents to borrowers which fraudulently claim to contain the signature of the Managing Director of our company.

These operations have also been using the following telephone numbers to contact consumers: 0203 129 2514 and 0238 106 0723. They may also have been operating from other telephone numbers and email addresses.

Please note that Finance and Credit Corporation Limited does not cold call, send unsolicited signed “loan agreements” or ask for upfront fees. We strongly suggest that you call our Managing Director Elio Astone on 020 7722 7547 in advance of proceeding with any “loan” or if you have any further questions.

If you are contacted by Loan4Help, or any of the companies which appear to be involved in these frauds, you should also report them to Action Fraud on 0300 123 2040.

Bridging LoansClear & Simple

Fincorp is one of the UK's most established and respected bridging loan companies. For more than 25 years the company has been providing 1st and 2nd charge bridging finance on residential properties in London and Southern England. Our bridging loans vary typically between £100,000 and £10 million, and we lend up to 70% value of the property secured on the property. And because you deal only with decision-makers, your bridging loan requirements are always dealt with quickly and with the minimum of fuss.

Why Fincorp for Bridging Loans?

We're a Principal Lender. Customers are able to get a decision quickly on their bridging loan without having to wait for authorisation from anyone else. And there's no back-tracking at a later date. So that means when we say yes to a loan, we mean it.

Our approach to business is summed up in two words, Clear and Simple. We believe that bridging lending is a straightforward business, all too often complicated by lenders with their lack of transparency and reliance on the small print. We work hard to make your dealings with us as clear and simple as possible.

Our Criteria

  • Principal Lender
  • 1st and 2nd Charges
  • London and South East
  • Residential properties
  • Bridging Loans from £100,000 - £10 million
  • Up to 70% LTV

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Latest News

Mirror Mirror: The rise of vanity bridging

By Matthew Anderson, director of Fincorp

Mirror, mirror on the wall, who is the cheapest of them all?

Sounds crass I know, but my Fincorp colleagues and I have recently been developing the idea that there are more and more lenders doing vanity loans in the bridging market. What do I mean by that? Well, the short-term nature of bridging means that in order to cover costs and make a decent enough return for investors, bridging lenders need to charge a certain amount.

At Fincorp we’ve been doing bridging loans for more than 25 years and in that time the calculations involved in working out what it costs to do a bridging loan have remained pretty much the same. Of course we want to make money, but ultimately, the rates we charge are the most competitive they can be.

Over the past four or five years, rates across the market have fallen according to various indices compiled by other lenders and trade bodies. But behind that headline decline in average bridging rates hide some uncomfortable truths in my view. Bridging costs are pretty fixed – all lenders would agree on that. The cost can vary based on cost of funding, but not by much. So how then can we have a market where bridging rates have fallen from as much as 2 per cent a month to as low as 0.7 per cent over the years when the base rate of interest has stayed static at 0.5 per cent?

The answer, simply put, is that margins are being squeezed.

But while cheaper loans are in the interests of borrowers, I suspect there are now lenders offering rates that not only can they not afford commercially, but that are actually losing them money.

These “vanity loans” have to be paid for somehow though, and it’s this that I fear could be a poisoned apple for the industry.

There are two obvious problems here: one, what a lender loses in rate he will make up for in fees; and two, if one loan loses money, another has to make double the margin to make up for it on the bottom line. Both problems come down to lenders finding ever more crafty ways to pile fees onto borrowers who end up paying the same or more for the loan by the time they’re finished as they would have had they simply taken a no-fees deal with a slightly higher rate.

There is also the potential that the need to make far larger returns on some loans to pay for loss-leaders elsewhere in the book drives some less scrupulous lenders to deliberately agree terms that are too short for borrowers’ needs, thereby ensuring a hefty whack of margin in the form of extension fees. This is bad enough for the borrower but for the industry there’s an even bigger problem I think. The rush to the bottom on bridging rates signals a market that is overcrowded and elbowing for market share. What we’re seeing is a land grab by lenders who are hoping they can weather a period of making losses on loans by forcing the more expensive competition out of the market at which point rates will start to go up again.

But cutting rates to the point that jeopardises the profitability of the business is a fool’s errand – and it’s one we’ve seen before: in 2007 sub-prime mortgage rates were in some cases lower than full prime rates. Lenders were so obsessed with market share they forgot to (or decided not to) price for risk. I need not remind anyone how that story ended.

Bridging is all about risk – all the more so because it is short term. And vanity has never done anyone any good at all. Not for nothing are we warned that pride comes before a fall. It is perhaps a lesson worth remembering.