Nutshell Money

Nutshell Money Full suite of commercial financial products that help business both consolidate and grow. We provide solutions to help when the bank says no.

Business finance, simplified.

04/05/2023

Happy Star Wars day! 😍


Itchy palms mean you are about to gain or lose money. 🙌According to the Palmistry and Hand Analysis website, an itchy ri...
28/04/2023

Itchy palms mean you are about to gain or lose money. 🙌

According to the Palmistry and Hand Analysis website, an itchy right palm is a good thing, because it means you are about to receive money. Don't scratch that itch, or it will stop the money from coming into your life.

Government sets out leasehold insurance reformsNew rights and protections are being sought for leaseholders to improve t...
25/04/2023

Government sets out leasehold insurance reforms

New rights and protections are being sought for leaseholders to improve transparency of the multi-occupancy leasehold buildings insurance market.

At the same time, the government has reconfirmed its intention to ban commissions to third parties.

The Financial Conduct Authority (FCA) wants leaseholders to be defined as the customers of multi-occupancy buildings insurance. This would require insurance firms to act in leaseholders’ best interests and prevent them from recommending policies based on commission or remuneration levels.

It follows a review by the FCA, published today, which found average insurance broker commissions rose by 46% per policy. Firms sampled paid over £80m to other parties, usually the freeholder or the property managing agent.

The review also identified ‘significant shortcomings’ by some brokers in applying fair value rules to their remuneration practices and the impact on those ultimately paying the costs of multi-occupancy buildings insurance.

The FCA says it expects brokers to immediately stop paying commissions to third parties (including property managing agents and freeholders) where they do not have appropriate justification and evidence for doing so in line with rules on fair value. It will also take appropriate action where firms have weaknesses in meeting their regulatory obligations.

The Department for Levelling Up, Housing and Communities says it intends to ban the payment or sharing of insurance commissions with property managing agents, landlords and freeholds.

In a letter to the FCA, secretary of state for levelling up, housing and communities Michael Gove MP writes: “I was, in all candour, outraged by your findings. Your report strengthens my resolve to ban property managing agents, landlords and freeholders taking commissions on buildings insurance and replace with transparent fees.

“Third-party commissions are inflating the cost of covering insurance placement and handling fees. Managing agents should be completely transparent about where service charges go.”

Gove added he supports the FCA’s intention to, subject to consultation, formalise the rights of leaseholders in a product’s fair value assessment and asked that any resultant changes are implemented by autumn.

The FCA says it will work with DLUHC to ensure action is fully delivered.

FCA executive director of consumers and competition Sheldon Mills says: “We want to give leaseholders more rights and the information they need to exercise them. Importantly, under our proposals, those selling multi-occupancy insurance will have to act in leaseholders’ best interests.

“Our review revealed large commissions paid by some brokers to freeholders and third parties, like managing agents, with little evidence of any valued added to justify these payments. We are taking action against these practices and won’t hesitate to take further action if brokers don’t comply with our rules.”

Happy St George's Day to everyone 😍
23/04/2023

Happy St George's Day to everyone 😍

INVOICE FUNDINGMore and more businesses are finding that they must look beyond the traditional bank overdraft to satisfy...
22/04/2023

INVOICE FUNDING

More and more businesses are finding that they must look beyond the traditional bank overdraft to satisfy their cashflow needs.

- Draw cash quickly into your business with a flexible funding arrangement
- Nutshell will happily share with you best practice advice on invoice funding solution for your business.
- Available to both start-up and established business clients

Nutshell Money - We provide solutions to help when the bank says no.
01292 300162
www.nutshellmoney.com

You will have heard the old English saying "See a penny, pick it up, and all day long you'll have good luck." Another su...
16/04/2023

You will have heard the old English saying "See a penny, pick it up, and all day long you'll have good luck."

Another superstition around the humble penny is that if you find one lying heads up it signifies good luck, but pennies that are tails up will lead to bad luck and should be left undisturbed.

Record number of landlords ‘planning to sell’: NRLALandlord confidence continued to slump at the end of last year, falli...
13/04/2023

Record number of landlords ‘planning to sell’: NRLA

Landlord confidence continued to slump at the end of last year, falling back to levels seen during the pandemic, says the National Residential Landlord Association (NRLA).

The association’s latest landlord confidence index reports on the situation in the final quarter of 2022, noting that the downward trend from the previous quarter continued.

The year ended with a fall in confidence from -27.6 to -33.2 amid threat of future legislation, the impact of tax relief changes and the impact of rising inflation.

While demand from tenants remains high, this is ‘not enough to persuade landlords to change their market outlook’, the NRLA says. The report notes the number of landlords ‘planning to sell’ is now at record highs (35%), while those ‘planning to buy’ is at record lows (12%).

Confidence has now been tumbling for four consecutive quarters and over that same period of time, 12% of landlords bought properties, 20% sold, 53% froze rents and 46% increased rents.

“The individual investor should act consistently as an investor and not as a speculator.”Ben Graham
10/04/2023

“The individual investor should act consistently as an investor and not as a speculator.”
Ben Graham

Happy Easter to all our customers and friends 😍
07/04/2023

Happy Easter to all our customers and friends 😍

HOSPITALITY & LEISURE - Let's keep the taps running! 🙌Key underwriting requirements for pub, bar, hotel & restaurant fin...
02/04/2023

HOSPITALITY & LEISURE - Let's keep the taps running! 🙌

Key underwriting requirements for pub, bar, hotel & restaurant finance include:

Demonstrable business experience in the sector

▶ Deposit funds available at around 30 per cent of the freehold business purchase price
▶ Additional security may be acceptable in lieu of full deposit funds
▶ Stock funding and working capital to be available (VAT bridging loans available)
▶ Special arrangements provided for established sitting tenants in a profitable business
▶ Trading accounts with proof of mortgage affordability from net profits
▶ Pubs ideally need a balanced ‘wet/dry’ revenue mix
▶ Solid, demonstrable business plan and cashflow forecast.

Our advice is given freely and in confidence. We provide solutions to help when the bank says no.
01292 300162

HOSPITALITY & LEISUREThere is no doubt that this sector is suffering in the current economic climate with cashflow issue...
29/03/2023

HOSPITALITY & LEISURE

There is no doubt that this sector is suffering in the current economic climate with cashflow issues and business failures at a high.

-Nutshell have over 30 years’ experience in the brewery and hospitality trade and are proud of the fact we have helped many existing clients through this downturn and ultimately help fund and grow their businesses.

An increasing number of leasehold and freehold properties are becoming available and many at knockdown prices.

We are also helping new clients to realise their dream of business ownership and enter the pub, restaurant and leisure sector.

We also assist ‘tied’ leaseholders acquire the freehold of their current property and there are some special arrangements available in the finance market for well-established and profitable businesses.

Nutshell Money - We provide solutions to help when the bank says no.
01292 300162

Inflation increases to 10.4% in February: ONSInflation in the UK was 10.4% in February, the latest data from the Office ...
25/03/2023

Inflation increases to 10.4% in February: ONS

Inflation in the UK was 10.4% in February, the latest data from the Office for National Statistics (ONS) reveals.

February’s figure is up from the 10.1% reported in January but down from a peak of 11.1% in October.

The largest upward contributions came from restaurants and cafes, food, and clothing, partially offset by downward contributions from recreational and cultural goods and services, and motor fuels.

Last month, the Bank of England (BoE) hiked the base rate by 50 basis points to 4% from 3.5%.

The next Monetary Policy Committee (MPC) meeting is scheduled for tomorrow (23 March).

LiveMore managing director of capital markets and finance Simon Webb says the rise in inflation is “disappointing”.

Nutshell Money - We provide solutions to help when the bank says no.
01292 300162
www.nutshellmoney.com

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