Services for Lenders

Services for Lenders

With experience of working in-house at financial institutions, we combine an understanding of the way that lenders operate with legal knowledge and best practice.  Our lender clients tell us that working with a law firm that really understands their day-to-day operations helps them to deal with legal issues more efficiently and cost-effectively.

Wright Hassall is proud to act for a number of banks, building societies and financial institutions in the UK.

We also act for a variety of second charge holders, as well as institutions that provide motor, consumer and asset finance.

Our lawyers work with – sometimes on an in-house basis - financial services businesses. We have advised product providers, intermediaries, mortgage lenders, service providers and other firms, in relation to their general business activities as well as their current and future regulatory obligations.  We advise on:

Collecting outstanding debts

We recover debts on behalf of our clients in a cost-effective and professional way, balancing the need to get cash in to the business with the requirement to maintain your reputation. We are able to deliver a quality and reliable collections strategy which can be implemented on its own or run alongside and in conjunction with court action. At each stage – pre legal, legal & litigation or early arrears outsourcing – Wright Hassall has the people and the skills to deliver effective calling, letter and doorstep campaigns.

Invoice discounting and factoring

We act for companies, asset based lenders, invoice discounters and factors advising on all forms of asset based lending, invoice discounting and factoring. We advise on the fundamental terms of any agreement, enforcement against the client, debt collection, fraud and asset recovery and client insolvency.

Motor Finance collections

A member of the Finance and Leasing Association, Wright Hassall has an in-house collections team and a wholly owned Debt Collection Agency (DCA) with specialist skills in recovering debts from motor and asset finance providers.  Motor finance clients have included Moneyway, First Response and VFS Financial Services.  We really do understand that motor finance collections need to be cost-effective, and efficient. 

Mortgage shortfall recovery and mortgage arrears rehabilitation

Wright Hassall has significant experience in supporting mortgage lenders in a number of areas including mortgage shortfall recovery and mortgage arrears rehabilitation. With a competitive cost base and bespoke processes, we are able to provide a value added service to mortgage lenders which is particularly important given the current climate.

Professional negligence

We have consistently been recognised for our ability to advise clients effectively on professional negligence matters having been named in the leading legal directories.  With over 15 years experience in dealing with professional negligence claims, the Wright Hassall team has handled several hundred cases for two major lending institutions involved in professional negligence matters including Bradford and Bingley Building Society -v- Hayes and Dumphys.  Sarah has also acted in one of the leading cases on breach of fiduciary duties (Swindle -v- Harrison). They are supported by a team of solicitors, including two solicitor-advocates (all Higher Courts), all of whom have considerable experience in handling professional negligence claims.  The value of professional negligence claims on which we have advised, range from £5,000 to several £million. 

Fraud

Lenders are facing negligent/fraudulent overvaluations, undisclosed back to back transactions, distressed sales, purchases at undervalue, potential overriding interests on security, false deposits, fraud against joint borrowers and identity fraud, amongst others.  We assist lenders on large portfolios, carry out complex investigations across books of thousands of loans, down to issues on single loans, making cash recoveries of loans or seeking damages to make good loss where the loan would not have been made had the professional acted in the lender’s best interests. 

Financial Services/ FSA Regulatory

We provide specialist advice and assistance on issues relevant to a broad spectrum of the financial services industry including:

  • setting up new FSA regulated businesses;
  • developing/launching new financial products;
  • advice on the scope and impact of current or future legal and regulatory regimes and FSA conduct of business principles (e.g. “treating customers fairly”);
  • undertaking s166 “skilled person” investigations and reports;
  • compliance support, reviews of systems and controls, capital adequacy;
  • advice/assistance prior to or in connection with FSA investigations, ARROW II visits, customer complaints and FOS complaints;
  • support for training & competence programmes for staff, senior managers and controlled function holders; and
  • offering dovetailed support (including due diligence, acquisitions/sales, employment, IT procurement, brand protection and debt collection) to financial service sector businesses.
For a no-obligation, no-nonsense chat about how we can work with you to relieve the burden of collections, litigation and portfolio management, please contact Sarah Perry.