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HCR Group concludes new finance deal for their GSP Scheme

Posted 10th December 2009.

At a time when many SMEs are suffering from limited bank lending, HCR Group has bucked the trend and secured a very substantial credit facility from Santander for its Guaranteed Sales Price (GSP) scheme.

The Groups previous bankers, Fortis, are withdrawing from the UK banking market following a takeover by BNP Paribas. Fortis has been outstanding in assisting us find the right solution and by maintaining a credit facility to our clients throughout the transition, said Rob Dolbear, Finance Director. Their effort and the smooth implementation to our new bankers reflects our excellent relationship of the last 20 years and we are grateful for their professionalism.

When discussing the new facility HCRs Managing Director, Andrew Finney, observed, we are delighted to be working with one of the top 10 banks in the world and one which has a track record of financial prudence. Santander has been impressed with our continued growth and financial management, and I believe that we will have a long and successful relationship.

The GSP scheme allows HCR Group to offer a relocating employee with a guaranteed sum of money based on the market value of their property. This strengthens the employees position as a cash buyer when negotiating the purchase of their new home. The scheme also allows the employee to relocate to the new area very promptly reducing stress and temporary accommodation costs.