High-cost lending firm enters administration

Naylors Finance, a high-cost lending firm based in Yorkshire has entered into administration.

Ed Boyle and Howard Smith of Interpath were appointed Joint Administrators.

The firm is no longer lending. All existing loan agreements remain in place and the Joint Administrators will provide updates to customers as soon as possible.

The firm’s administration does not change the payment terms and conditions of customers’ loans, which remain the same as when loans were taken out. The firm remains subject to the same regulatory rules and requirements as it did prior to its administration.

The Financial Conduct Authority (FCA) says customers should continue to make repayments as normal. Failure to do so could affect customer credit records.