A simple flow chart of our process so you know what to expect
1.
Prospective customer contacts NCF applying for business finance in a Limited company name via the NCF website with an online application or over telephone
2.
NCF account manager contacts the corporate customer and explains that our agreements require Personal guarantees and are secured on properties via legal charges. Our agreements are unregulated asset finance or refinance agreements. We do not offer loans and we only deal with corporate business clients not consumers in any way
3.
Account Manager requests and gathers further information from customer including financial information. Account manager asks numerous questions to understand the clients business
4.
Account manager submits all information to send to the underwriting department for a decision to either approve or decline the application or to request further information
5.
Underwriting departments either gives the account manager an approval, a decline or request a guarantor to support the application. If approved there will be a list of conditions subject to the approval
6.
If a guarantor is required the account manager will email the client asking for a guarantors details who will also be involved in the business. The account manager will contact the guarantor to explain the requirement and gather their information and will tell them that if the customer defaults the guarantor would be liable for the full debt
7.
If approved, all documents required to be signed including the quote, offer and legal charge are posted to every signatories homes address for their consideration and we recommend in writing to them that they take independent legal advice. We confirm that their home may be repossessed if the customer does not pay the debt secured on it
8.
If a client asks to proceed, an appointment email is sent to all signatories with a 2nd copy of all documents including the quote with all amounts payable and the settlement calculations. Again NCF recommend in writing they take independent legal advice before signing
9.
The signatories are required to email NCF to confirm they have received the email and the copy of all documents for their consideration, that they would like to proceed with the agreement which is secured-on property and they understand the terms offered.
10.
The Approval Script is read by the NCF account manager to the signatories confirming the secured-on property finance conditions, the key facts and quote and offer (a record of this call is made)
11.
NCF representative delivers all documents for signing along with a company brochure to the signatories or to their solicitor and inspects all equipment which will be subject to the asset finance or refinance agreement
12.
In the appointment the signatories consider the documents for a 3rd time and either proceed to sign them or they post them back to NCF as and when they are ready to proceed. The representative leaves a CD with a 3rd copy of the documents with the customers
13.
In the appointment all signatories must write in their own handwriting that the representative has read out the script, not been in a rush, that they have not been unduly influenced or pressured, that they have received copy of all documents before and during the appointment and by email (3 times)
14.
Each signatory will receive a recorded know your customer call from NCF, to ensure they understand the quote and offer, the legal charge on their property, the settlement procedure and have not been unduly influenced and if they want to activate or cancel the agreement
15.
If the clients want to proceed the documents are either posted back to NCF office by the customer or their solicitor or given back to the representative. The documents go through a rigorous checking process by NCF and the solicitor before the legal charges are registered by NCF or the client's solicitors
16.
24 hours later NCF make a 2nd compliance recorded call to every signatory to ensure that they still want to procced after they have had time to reflect . All facts, settlement process, security and legal charges are again confirmed. The clients are given the final option to proceed or cancel free of charge
17.
If the client chooses to proceed NCF pay the supplier or company (dependent on if the agreement is for asset finance or refinance). The agreement then goes live and is allocated an agreement number. A direct debit is set up for the monthly rentals
18.
An NCF welcome pack is sent to the company address containing all the documents. This is now a 4th set of documents received. These are posted recorded delivery and logged in an internal post book
19.
An NCF Guarantors welcome pack is sent to every guarantor on the agreement containing all the documents. This is now a 5th set of documents received. These are posted recorded delivery and logged in an internal post book
20.
A vat schedule is posted to the company setting out the list of future scheduled payments per year of the agreement. If the client is vat registered, they may claim this back
HAPPY CUSTOMER AND HAPPY FUNDER
HAPPY CUSTOMER AND HAPPY FUNDER
