As we approach the festive season and prepare to close another year, I would like to take this opportunity to reflect on the past twelve months and extend our heartfelt thanks to you, our valued broker community. Your support and dedication have been instrumental in helping us deliver tailored financial solutions to businesses across the UK.
2024 has undoubtedly been a challenging year for many. The economic landscape presented a complex mix of obstacles and opportunities. With persistent inflationary pressures, high interest rates and global uncertainty impacting market confidence, the financial services industry has faced many tests. As a bank, we have remained steadfast in our commitment to supporting you and your customers, navigating the changing conditions together. Through close collaboration and a shared focus on delivering solutions, I am extremely proud that we have worked together to ensure businesses can access the funding they need to thrive, even in the face of uncertainty.
The past year has also been one of progress and innovation at Cambridge & Counties Bank. In response to feedback from our broker community, we have introduced new initiatives and streamlined processes to improve efficiency and enhance our service offering. This includes refining our lending criteria, strengthening our product suite, and investing in technology to support our colleagues in making your interactions with us as seamless as possible. Your contribution has been invaluable in shaping these improvements, and we are committed to building on these further with your continued input as we move into 2025.
Looking ahead, we remain optimistic. While the economic environment may continue to pose challenges, we firmly believe that with collaboration and the focus on service that has always been at the heart of our business, we can continue to deliver positive outcomes for our brokers and customers. We are dedicated to supporting you every step of the way, offering the expertise, flexibility, and personal service you expect of us.
Finally, I would like to say thank you once again for your valued partnership. It is because of our strong relationships that we have been able to achieve so much together in 2024 and I look forward to continuing our successes in 2025.
From all at Cambridge & Counties Bank, we wish you a joyful Christmas and the best of fortunes for the new year.
Sarah Barker
Chief Commercial Officer
Regional updates from our real estate team
As we close out the year, we took the opportunity to connect with our regional directors as they reflect on what an incredible year 2024 has been for them and their teams.
Scott Barber
What a year! New to the Bank as Regional Director in January, I have busied myself restructuring the team, to allow us to meet broker and customer expectations in the North. This has included 4 external recruitments, and two internal promotions, which strengthens our people resources to 10. You could say that we are a team of 11 as one of our recruits delivered a beautiful baby boy this month and yes we are forward thinking and recruiting even when maternity leave is imminent!
These staff changes have brought about a true business development model where our team of BDMs continue to focus on strengthening working relationships with our broker network, whilst Relationship Managers have deepened their knowledge and understanding of our customer base, allowing us to further support their on-going requirements, as they navigate the financial and economic landscape that lays before us.
It’s definitely the beginning of a new chapter, with new faces, but a level of experience and relationship presence that we have come to be known for. A busy 2024 for sure and all the building blocks in place for a strong 2025 means we are excited to watch it develop.
Carl Ashley
Over the last year, the team have focussed on deepening their relationships with all of our customers. This has enabled us to develop a greater understanding of their business needs and concerns. Not only has this resulted in the bank being able to provide further funding to those customers that have reached out to us, but it has helped us retain and adapt facilities to better suit their needs. This approach has also allowed us to work closer with brokers on new and larger facilities, cementing deeper relationships across all key stakeholders to the deal.
Paul Howard
Team South have benefitted in 2024 from the addition of two new, highly knowledgeable and experienced individuals, adding to the Team that’s already in place here. Business Development Managers Lewis Ashford and Vicky Pearce have arrived, full of energy and drive to support in the delivery of the Banks growth plans and have seen some great successes already. Lewis managed to secure his first approval, within a couple of weeks of his arrival, a hotel deal of £3.3M, which then drew down, with the support of his colleagues, just two months later. Lewis and Vicky now work alongside Stephen Parr as BDMs and are delivering against all expectations, with lots of business in their pipeline and ready to draw for the benefit of new to Bank customers.
Stuart Jones
Operating in the Corporate space means that 2024 has been one of the most challenging markets in which I have operated.
It has remained a competitive marketplace, combined with the false starts around potential rate movements. At times it has almost certainly felt like a game of ‘pinning the tail on the donkey’.
Notwithstanding market conditions, the London & South East Corporate Team have witnessed its highest lending volumes in recent years. To do this we have stayed true to our core principles which centre around credibility, deliverability and exceptional customer service.Â
2025 is already looking to be another good year, however we need to have the courage of our convictions and take our customers and brokers on the same journey.
A good year and I thank the team, brokers, professionals, and wider stakeholders who have played a part in its success.
Celebrating success!
We are excited to announce that Jayne Follows, Head of Real Estate Finance was honoured with the prestigious Leadership Award at the NACFB Commercial Lender Awards.
This well-deserved recognition highlights Jayne’s exceptional leadership, dedication, and commitment to driving excellence. Under her guidance, our team continues to achieve remarkable milestones and set new benchmarks for success. We are incredibly proud of Jayne’s accomplishments and deeply appreciative of her inspiring leadership. Congratulations, Jayne and here’s to celebrating this achievement and many more to come!
Out & about
Our team have been actively attending exhibitions, events and expos across the country, connecting with industry experts and bringing fresh insights and ideas back with them!
Round up of Asset Finance
We’re thrilled to welcome Matthew McDermott as Head of Credit – Asset Finance Flow, leading a newly established business line dedicated to providing tailored finance solutions for lending values up to £150,000. This is a significant segment within asset finance, where the bank’s customer-focused approach aims to make a real difference.
We’re also pleased to introduce Tamsin Emery as Business Development Manager, bringing over 20 years of expertise in the asset finance industry, and Renny Aspill as Asset Finance Lending Officer, with a strong background in customer service.
This exciting growth coincides with the opening of our new office in Reading, a key asset finance hub in the UK.
Enhancing hotel refurbishment with tailored financing
We assisted a North Cornwall hotel refurbishment, funded by a 5-year fixed deal with an initial 2-year interest only option followed by capital and interest on a fully amortising profile.
A broker introduced us to his long-term client and our focus was to understand both the hotel’s current business potential and its strong underlying value for possible residential use. The client required funding to enhance key areas of the hotel, such as the reception and bar, and required funds through an intercompany transfer to support planning on a separate plot of land.
A key aspect of the deal was interest-only payments, which we successfully achieved by adjusting an existing product. This collaborative effort between the client, broker, and our team of experts resulted in a successful transaction, receiving positive feedback from all parties.
Securing growth to support diverse hospitality expansion
We’re thrilled to share the successful completion of a major £2.93m financing deal supporting a customer’s impressive and growing portfolio. The transaction involved refinancing four well-established properties and financing two new acquisitions, adding a mixed-use property and a holiday let to the group. This complex deal covered ten businesses, including fish & chip shops, restaurants, cafes, bars, and holiday lets.
Due to the sheer number of businesses, loans, and properties, this deal required the dedicated efforts of colleagues across the bank and an external legal team, culminating in a rewarding result and a highly appreciative client eager to strengthen her partnership with us.
Colleague socials and charity participation
Our social and charity committee have been hard at work throughout 2024, organising events and volunteering opportunities to bring our team together.
Specialist car finance update
This year, we’ve completed some standout deals, including our largest-ever loan of £4 million for a small collection of cars featuring a £12 million Ferrari, it was an endeavour with numerous challenges, but we managed them successfully. We recently funded a 1960s Ferrari for £750,000, with approval and payout achieved in just 10 days, including assistance from a solicitor for a Bill of Sale.
Notable deals also include funding one of the oldest cars still in existence—a true veteran from the 19th century, alongside brand-new releases from Rolls Royce (Spectre), Ferrari (Purosangue), and Aston Martin (DB12). A personal favourite of our Specialist Car Finance Director, Tom Senior was refinancing one of the finest examples of the Ferrari LaFerrari, which its fortunate owner has cherished from new and seen its value triple over the last 10 years!
An incredible year for our specialist car finance team with so much more to come!
Savings update
This year has been an exciting one for business savings at Cambridge & Counties Bank! We introduced our newly optimised online application journey, making it easier than ever for customers to open savings accounts and register for online servicing. Existing customers also benefit from a streamlined, simpler process when applying for additional savings accounts.
Catch up with Lewis Ashford
Lewis Ashford joined the bank earlier this year as Senior Business Development Manager for the Southwest. We caught up with him to hear about his experience so far.
What attracted you to join Cambridge & Counties Bank?
I had been with The Co-Operative Bank for 15 years and I was really looking for a new challenge. I’m always up for a challenge and love to support businesses with funding, so when I heard what Cambridge & Counties Bank were doing in the market, I was keen to join the team. There were a few familiar faces at the bank and following a few discussions I was sold on what an exciting opportunity it was.
What does that mean for our brokers and customers?
Building a credible reputation is key for brokers and customers, this means delivering on terms which are issued at the outset of a transaction. To do this you need to issue realistic yet competitive terms which are in keeping with the banks credit risk policy. Maintaining strong communication throughout a transaction is also paramount and sets us above our competitors.
What are your priorities in your first year at Cambridge and Counties Bank as Senior Business Development Manager?
Establishing strong working relationships with key stakeholders both in and outside of the bank are keys to success as a BDM. Having achieved that in my first few months its then about delivering consistently and providing top quality service. Real estate lending is one of the banks principal activities, and ensuring the bank delivers on its objectives is going to be key for me.
What does the perfect Sunday morning look like to you?
A walk with my two sons and wife along the seafront in the morning with some good strong coffee. I love to cook so this would be followed by me cooking a Sunday roast with all the trimmings, now its December Michael Bublé’s Christmas Album is in full swing! I’m done by half 2 tucking into a nice glass of wine or a cold beer depending on the time of year and about to sit down for the first instalment of Sky Sports Super Sunday with my boys. By the end of the day Manchester United have beaten City, the roast has gone down a storm and there’s just enough room for some dessert!
If you could trade places with anyone for a day, who would it be and why?
I think it would have to be the President of the United States, not for the power but for the secrets! I wonder what they know about what has really gone on in the world over the years versus what has been reported.
Testimonials
The entire process has been shockingly good. I have never had such impressive and impeccable service from a bank before and I would like to give a shoutout to Vicky Pearce who handled my case above and beyond the call of duty. From start to finish all of your staff have been amazing and I congratulate you on your professional service.
Alastair Jessel
Battersea Park Clinic
"It was an absolute pleasure to work with Michelle and Cambridge and Counties Bank on this deal. Michelle truly lived and breathed this with me every step of the way to support this fabulous client. Thank you so much to the wonderful team and Michelle for everything you have done. Together we were truly an unstoppable force!"
Belinda Roughton
Invoice Finance Soutions Ltd
"Nick was incredibly responsive and helpful with a complex transaction. He ensured timely communication with the client and managed the process professionally. The client's goal to complete within a specific time frame was met thanks to Nick and the team. Working with Cambridge & Counties Bank is always a pleasure, reaffirming our excellent relationship."
Paul Debney
Karis Capital
"Your efforts and attitude to help get this over the line have been nothing short of outstanding. This is what sets Cambridge & Counties Bank apart from the numerous other lenders we encounter."
Stuart Oldfield
Platinum Money Ltd
"After a lot of hard work from all sides we have finally completed today… This application has not been the easiest… Your patience, thoroughness and professionalism has been second to none. Thank you again for all your help and support, onwards and upwards to a lot more business in 2023."
Michael Kennedy
PBFC UK Ltd
"I was most impressed with the regular updates and communications and the understanding of our deadline. As a lender, your 'can do' attitude was most refreshing."
Julie Priest
Charles Louis
"Of all the banks I deal with, I have to say the Cambridge & Counties Bank team work tirelessly to get deals agreed and drawn. It is good dealing with a bank who always works to find solutions for clients (and brokers) rather than looking for reasons not to provide funding. It’s very refreshing in the current climate to have someone that understands funding and has the desire to get things done. Once again thanks for your help and support."
Simon Harrison
Flexible Commercial Funding Ltd
"Thank you to the entire team, with all your help we managed to get there, and, in the process, we saved the customer £4,000. Great work guys!"
Alex Churchill
Real Property Finance
"I would like to extend my thanks to all parties at Cambridge & Counties Bank involved in this transaction. There were several challenges to overcome and it was very refreshing to see that the Bank went the extra mile (& then some) to enable this deal to get over the line."
Andy Reynolds
Sterling Capital Reserve Ltd
