- Brachers LLP frees up £135k with Lombard financing of Professional Indemnity Insurance cover
- Lombard Technology Services reduces hire purchase deposit by 80% on state-of-the-art telephone system
- Lombard Vehicle Management enhances Brachers' duty-of-care on company fleet with contract hire and vehicle management deal
Brachers LLP is a full-service law firm which has evolved from its strong private client base in Kent to become a leading corporate commercial law firm servicing high profile national clients.
Brachers LLP regularly conducts a review of its financial liabilities to ensure it receives the most competitive deals on the market to meet its operational needs. One such review highlighted the expensive repayment rate on a broker-arranged loan which was funding the firm's Professional Indemnity Insurance (PII) – a legal requirement for companies giving professional advice to clients. Brachers contacted Lombard for an alternative quote.
Tim Robinson, Head of Practice Management at Brachers LLP, explains "With aspirations to grow our practice, it was important to ensure we were on a competitive rate for PII without having to commit working capital upfront to the annual premium."
In addition to the PII cover, Lombard drew on its breadth of resource to fund the continued growth of the firm. Relationship Manager Darren Lansley explains, "It is much simpler for our customers to deal with one point of contact for asset funding, so I was keen to identify how other divisions of Lombard could help Brachers."
Through Lombard Technology Services (LTS), Lansley arranged an affordable hire purchase deal for Brachers LLP on a state-of-the-art computerised telephone system. LTS requested 80% less than the deposit required on the finance deal from the supplier and delivered a lower monthly rental.
Lansley also helped Brachers LLP review its company fleet through Lombard's Vehicle Management division. The firm has since upgraded its fleet, providing partners with greener vehicles attracting a lower rate of taxation and an enhanced duty-of-care. Security may be required and product fees may apply.
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For further information on this transaction, please contact:
Darren Lansley
Senior Relationship Manager
01622 774000
darren.lansley@lombard.co.uk
Lombard North Central PLC. Registered in England No.337004. Registered Office: 3 Princess Way Redhill Surrey RH11NP
Fleet services provided by Lombard Vehicle Management Limited. Registered in England and Wales. Registered Number 02597082. Registered Office: 3 Princess Way, Redhill, Surrey, RH1 1NP
IT finance provided by Lombard Technology Services Limited. Registered in England: No 2039637. Registered Office: 3 Princess Way, Redhill Surrey RH1 1NP
