ING pull out of UK leasing market

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ING is a well-recognised finance company and has made a shocking decision to pull out of the UK’s commercial vehicle lease market as of the end of this month.

Part of ING Group, a global financial institution of Dutch origin, ING Lease UK forms part of the Leasing & Factoring business which has operations in 7 European Countries.

It's estimated that their withdrawal could leave a £1 Billion "void" that will need to be fuelled by other funders, and pressure will now be felt heavily within the heavy goods vehicle and commercial markets who are already seeing a downturn on the number of new commercial vehicle registrations this year.

Despite reporting that the UK GDP had come in well ahead of expectations on their leasing website the decision to pull out has still been made.

For more information http://www.ingcommercialbanking.com/eCache/ENG/12/952.html

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