Close brothers premium finance

Close Brothers Premium Finance is a trading style of Close Brothers Limited, a subsidiary of Close Brothers Group plc, that helps make insurance payments more affordable through regular, monthly instalments. The company partners with more than 1,600 insurance brokers across the country to provide premium finance, which leads to a new loan being offered every 2.2 seconds. They are the most experienced provider of premium finance in the country, funding insurance for one in seven UK families and one in 20 UK businesses.

The company offers a range of products to make insurance more affordable by allowing customers to spread the cost over regular payments. They provide both recourse and non-recourse bordereau products to match customer needs, as well as fixed fee structures and self-approval limits that are described as the highest in the industry. Their online system, i-prompt, partners with TeleSign to ensure proposals are authorised quickly once satisfactory Credit Reference Agency and Anti Money Laundering checks are complete.

The business is located at 10 Crown Place, London EC2A 4FT, and is registered at Companies House under number 00195626 with firm reference number 124750. Close Brothers Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.

Recent feedback from Trustburn shows a rating of 3.9 out of 5 from 8 reviews, with the most recent review dated 2023-08-15. Reviewers frequently praise the competitive rates, quick and easy process, user-friendly website, and hassle-free payment experience, while noting the service has been excellent for years.

The company states that they do not charge fees for processing amendments of any sort, keeping the experience hassle-free. They also offer a fixed interest charge for commercial lines, allowing customers to budget for the cost of their insurance easily for the entire period of the policy.

To get started, customers can electronically sign their credit agreement via the client portal or by calling 0333 321 8566 with their agreement number. The process involves AML checks and Credit Reference Agency checks before agreements are authorised quickly, often within seconds of a proposal being made.

Some reviewers mention that the website is easy to navigate and the payment process is quick and efficient. Others highlight that the rates offered are competitive and the service is top-notch, making it a go-to company for premium financing needs.

If a customer thinks they would like to cancel their insurance policy or credit agreement, they should first contact their insurance broker to talk things through. Once the broker receives a cancellation request, the company will cancel the credit agreement and confirm this in writing to the customer.

The business launched real-time affordability decisioning for Acturis in 2026, enabling customers to receive an affordability outcome at the point they arrange premium finance. This update was reported by insurance-edge.net as part of their latest developments.

Customers can update their email or postal address via the client portal or by calling 0333 321 8566 with their agreement number. They can also change their payment dates through the same client portal or by contacting the support team directly.

The company offers a fixed fee structure to keep things simple and transparent for both brokers and customers. They also fix their net rate to brokers, providing flexibility with tailored self-approval limits and instant authorisation capabilities.

The company provides a streamlined online experience for customers, from electronically signing credit agreements to amending payment dates and settling arrears. They aim to make the entire process as hassle-free as possible without charging fees for processing amendments.

The official website of Close brothers premium finance is closepf.com.