High-cost lender, SD Taylor Limited, has been placed into administration, the FCA has confirmed.
The firm, which was trading as ‘Loans at Home’, offered home collected loans to customers with repayment periods between 14 and 63 weeks.
The FCA stated that all existing loan agreements will remain in place, although the firm will no longer be able to issue new loans.
SD Taylor Limited is part of the Non-Standard Finance (NSF) Group and its ultimate parent company is Non-Standard Finance plc. The NSF Group is made up of firms providing unsecured credit and the FCA confirmed that SD Taylor Limited is the only firm in the group which has entered administration.
Chris Laverty, Trevor O’Sullivan and Andrew Charters of Grant Thornton UK LLP have been appointed as joint administrators.
“The joint administrators will provide updates to customers as soon as possible,” an FCA statement said. “We are in close contact with the firm and the joint administrators regarding the fair treatment of customers.”
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