Finance broker Garry Falla has taken over the sole ownership of Falla Ingrouille, the business he co-founded in 2003.
It follows the departure of his business partner Adrian Welch.
With almost 40 years’ experience in the lending sector Mr Falla will continue to operate the business on the same principles, acting as a totally independent intermediary between personal and business clients and finance houses.
Falla Ingrouille was co-founded with Tim Ingrouille, who left the business in 2007, and emerged from RoyScot Guernsey, a joint venture with the Royal Bank of Scotland.
Garry said that in a changing banking environment and with the welcome advent of responsible lending, the business had created its own niche. It embraced traditional values, was able to negotiate competitive rates and placed importance on a personal approach and face-to-face client contact.
He said: “In the case of many of my clients I know them personally and have arranged finance for them on a number of occasions so I can vouch for them when negotiating with the lenders. No two arrangements are the same and no two days are the same which is one of the things I like about this industry.”
Beyond the most common reasons for obtaining credit, purchasing a car or financing home improvements, there are some less then usual reasons people get in touch to arrange loans.
Garry reveals they include cosmetic surgery and putting in place a contract hire facility for more than £1million-worth of commercial vehicles.
He’s also predicting changes for the lending sector in the island after the Guernsey Financial Services Commission issued a lending, credit and finance consultation paper last July. Garry expects that some form of licensing regime will be introduced in the next 18 to 24 months which, he says, will provide much overdue greater protection for consumers.