Praetura Asset Finance - Blackburn

Roland T.

Working as a Finance Broker, it is always a bonus when you work with people that make life easy for you.

I recently had the pleasure of working with Praetura Asset Finance, to help one of my clients fund a new vehicle for their business.

The business had only recently been incorporated and there was some historic negative information on the credit profile of one of the directors.

Tracey who dealt with the application for me, was able to obtain an approval very quickly, allowing the customer to place a deposit to secure the car, confident that the funds would be paid directly to the dealer in plenty of time for him to collect it.

Praetura were able to see the bigger picture and saw past the issues that other lenders were put off by.

Documents and ID checks were completed electronically, which meant a nice easy and speedy pay out process.

Everything happened extremely smoothly and the customer was pleased that we were able to source the necessary funding for him, after his disappointment at being declined by other lenders.

Based on this experience, I will certainly be sending more of my clients to Praetura .

Fiona C.

Praetura have gone over and above with a recent refinance deal for one of our longstanding customers. Underwriting decision was quick and they were able to show flexibility with asset values to help the customer achieve the desired refinance amount. Administration for this deal was tricky as some assets still had lease end conditions attached. When needed, Praetura were happy to roll up their sleeves and overcome these issues directly with the lessor. Everyone at Praetura from sales, underwriting through to payouts has a ‘can do’ attitude and was keen to help us get this deal over the line. We will definitely be using them for future business.

Mohamad A.

Worse choice and experience I've had in my life and I've seen a lot. We got recommended this company after attempting to get a van from Mercedes for a new contract we have, we were told we can open a account with them and get multiple assets with a option of early settlement to make the interest cost go down. We got one asset and after 6 month it was stolen. We then notified our insurance and praetura. a few days later the insurance company asked us to get a early settlement figure from them. we contacted praetura and they said they would send it over, when i looked at the email they sent i saw it was a termination letter and the outstanding amount was with the full interest included i contacted Mike who sent the letter and was head of collections and also one of the directors. He said it was because the van was stolen and that is there procedure, i was confused but sent it on to the insurance company who where even more confused. Long story short STAY AWAY because they not only refused to give me a early settlement fee. they also didn't want to wait for the payment from the insurance and tried or did get a winding down petion and asking for extra 7k for legal costs after they have been paid from the insurance the ridicules amount. I'm now having to go to court to clear all the malicious thieving ways

Louis M.

The worst company I have ever dealt with.
They abuse and bully people with mental Health issues and threaten within 1 day if you don't make payments they will put charges and close businesses down.
Currently going through the Ombudsman and Authorities to action there conduct the MD and the Collections team are heartless people.

Henry A.

Praetura are one of my go-to lenders. Will is a first class Business Development Manager and always works hard to find a way to make a deal work. He is often available outside core working hours and is always happy to chat through a potential deal. Mike in Underwriting has a client and deal focus and will work with Will/me to help structure a challenging proposal that works for both the client and Praetura. This is a brilliantly collaborative way of working that ensures the best outcome for my clients. I am delighted to be able to recommend Praetura and am looking forward to getting our next deal done!

Matthew B.

URGENT !
please be aware all these positive reviews are from brokers whom have received hefty commission Praetura is the first choice as the commission levels are high and undisclosed.

The guys that come out to you are very nice but then the guys in the office use bullying tactics that all agreements will be cancelled even if you are late on one agreement for whatever reason.

This is an unregulated business so the rules are made as they go along extremely poor customer service interest rates are much higher.

I would give a zero rating but unfortunately cant. Never re write your agreement as you will then be charged interest on top of interest again not like other lenders.

I would recommend Close asset finance or Simply Asset finance if you are looking for 3rd tier asset finance lenders both lenders are very understanding and will work with you not against you.

Also beware about the personal guarantee everything has that attached you could have made 4 years payments on time but missed one payment down to customers not paying you and Praetura will start treating to repo or terminate the agreements this is just a money making exercise for them.

I am currently submitting documents into court my solicitors have confirmed steps Praetura have taken shouldn't have been taken.

So watch this space I will try and update others if anyone has had similar issues please contact me on this email I can refer you to lawyers that specialise in cases like this.

I hope i have given a clear picture KEEP AWAY DONT GET INTO BED WITH PRAETURA

Emma D. J.

Lewis and the team at Praetura are brilliant to work with - in my experience, the communication and attention to detail is outstanding. They will go above and beyond to help structure the best possible solution. I find them very professional and a pleasure to deal with.

Geanina E. T.

STAY AWAY!

Upon reaching out to the broker who facilitated the agreement, they initially assured us that we could settle the agreement without incurring any additional fees. However, when pressed to clarify the nature of the agreement, they became evasive and started avoiding our inquiries, even promising callbacks that never materialized.

The broker finally acknowledged that we had been signed up for an unregulated agreement, which they were unwilling to discuss in detail.

Furthermore, they asserted that because the agreement falls outside the realm of regulation, we are stripped of the protective rights and remedies that would otherwise be available to us under the law.

We firmly believe that the contents of the settlement letter should only include a closing fee, not additional interest charges. This is the standard practice across the financial industry and aligns with the principles of responsible lending.

Settlement figures are designed to provide transparency and encourage borrowers to proactively manage their finances, not to exploit their situation FOR MONETARY GAIN.

Regrettably, the treatment we have received from the finance provider has left us feeling belittled and manipulated. It is disheartening to realize that certain entities may take advantage of unsuspecting individuals who might not immediately seek assistance or intervention.

We are prepared to fight for our rights and protect ourselves from being victims of misrepresentation and exploitation, as this is unacceptable!