Family Finance started trading in November 1953. In this post war era there was still rationing, although this would be completely phased out by summer 1954. Many industries were nationalised and the public education, health, housing and welfare systems were expanding. In fact, 1953 could be characterised as being the eve of affluence. It marked the beginning of a period of steady economic growth and historically low unemployment that would characterise much of the following twenty years. However, there was still a gap that needed to be filled in Wales as it was slightly lagging behind in the prosperity stakes. People needed finance, to buy the things for their homes that they were seeing in newspapers and magazines.
Based in South Wales, Family Finance was founded by a consortium of local business people led by the grandfather of the current Managing Director. Its ethos? To provide Finance for Families. In some cases, we are now providing financial services to third generation families.
Currently in our seventh decade of trading, the company is proud to continue this tradition whilst also covering a wider demographic and geographical area. We now provide for both business and commercial customers.
Family Finance caters for over nine thousand customers throughout South Wales, the West Country, the Midlands and the North of England. All lending is advanced with Family Finance as the principal lender.
Some of our customers may have been excluded from mainstream borrowing and our 70+ years of trading has enabled us to understand our customers’ needs, and the markets in which we operate. Our philosophy of always trying to ensure good customer outcomes is reflected by our high level of repeat business and customer retention.
Family Finance offers a range of products to consumers and to commercial customers. Consumers products (e.g. Motor finance and personal loans) are regulated by the Financial Conduct Authority (FCA) whilst commercial products (commercial mortgages and bridging loans) are not regulated by the FCA. We are responsible lenders and all credit is subject to status and an affordability assessment. We engage with customers to ensure that the product is suitable for their needs and affordable and ask customers to consider how they will manage repayments for the full term of the agreement. Our friendly staff are available to answer any questions on the range of products we offer.