Simple, straight forward funding for your Professional Indemnity Insurance (PII) premiums
Professional Indemnity Insurance premiums can often be one of the largest single costs a legal firm can have. As a result of this, it is usually the case that Law Firms prefer to spread this cost throughout the year breaking it into manageable monthly payments.
One common problem that is experienced by legal firms is that typically, insurance companies only offer payment structures across a 10-month payment plan.
At V4Bprofessions, we understand that each practice has varying pressures and requirements for their insurance funding and that s why we have worked to develop our insurance funding facility to be able to offer firms the ability to access a wide range of customizable features for their lending.
Through extensive engagement with both lenders and legal practices, we discovered that the most important factors to be considered were
- Low Interest Rates
- Flexible terms
- Quick decisions
- Fixed Rates
- Personal service
With these focus areas firm in our minds, we created our Unsecured Funding for Insurance Policies and/or Practicing Certificates Facility.
So what does that mean?
All of our clients have a dedicated relationship manager meaning that no you will always have a familiar voice when calling. Your relationship manager will allow you to discuss requirements without having to continually repeat information and business needs to a new person every time you call ensuring you a personal service designed to facilitate you lending solutions quickly and with ease every time.
Our facility offers terms ranging from 6 to 18 months making it easier than ever to ensure that your lending meets you current and future business needs.
Interest & Fees
All interest rates and costs are fixed and transparent. Your relationship manager will ensure that you are provided with a complete and detailed account of your lending package ensuring there are no surprise costs waiting for you at a later date.
Terms and conditions for applicants
- Business must have been established 1 year or more
- Professional indemnity policy must be non-cancellable
- Payment will be made directly to partnership or insurance company or broker, with a copy of indemnity certificate / practicing certificate to the Bank
- Credit facility fee may be applicable depending on the funder requirements and is usually paid with the first payment
- Full fees / charges and interest rates may be individually negotiated and the amount you are charged will depend on your circumstances. Speak to your relationship manager for more details.
To apply now or for further information then please call now on 01978 668 939 and ask for Pete or Brian
Alternatively, please visit our website at www.v4bprofessions.co.uk for more information on all of our funding facilities.