Instance Finance boss accuses retail banks of 'poaching' lenders by under-cutting high rates

Fri, 02 Dec 2016

By Fiona Rotherham Dec. 2 (BusinessDesk) - Instant Finance chief executive Richard de Lautour is accusing retail banks of poaching clients by undercutting loans the finance company has made at high interest rates once it has already done the hard yards on establishing borrowers' creditworthiness and ability to make repayments. De Lautour claims that over the past four years the larger retail banks have moved more into high-risk personal lending, because of the low interest rate environment, adding to the increased competition already pose...

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