The Road to Best Independent Lender

Industry news

The Road to Best Independent Lender

26th April 2022

Who would have thought it? Just after completing our 8th month of full trading, we have been nominated for an award at the Car Finance Awards 2022!

At Unity, we are absolutely delighted to announce that we have been nominated for Best Independent Lender (Non-Bank Owned) at the Car Finance Awards 2022. The fact that we have received this nomination during our first year of full trading is a testament to the commitment that our team has shown over the past 12 months to getting Unity up and running, and in providing excellent service to our customers. 

In August 2021, we started trading in full. Six months later, in January 2022, we wrote nearly £10m in car finance. This sharp increase can be attributed to the diligence and industriousness of our team. 

An Ethical Lender

We are particularly proud of our nomination for the Car Finance Awards 2022 due to the fact that we prioritise ethical practices ahead of profits. We believe that as a car finance lender, it is our responsibility to provide a service to our customers that is ethical – both for the customer and for the environment. 

For example, we know that sometimes an unexpected outgoing can leave you only just able to cover your house bills, and that you may not be able to make your car finance payment that month. We adhere to a forbearance policy to help our customers to repay their car loan when they are able to. 

We also use several security programs during the car finance transaction to ensure the online safety of our customers. Our integrated fraud and KYC (Know Your Customer) technologies allow customers to use our system online and know that their identity is safe. Our fraud and KYC technologies also reduce the amount of paperwork that customers must complete during the application process. This also speeds up the turnaround times so we can get our customers behind the wheel faster. We also use Open Banking to help protect our customers from fraud.

We always want to hear what our customers’ experience with us has been like so that we know what’s working and what we can make even better. We keep in contact with our customers throughout their repayment period to make sure that they are completely satisfied with their new car and with their experience with us. If a customer goes into forbearance, we provide them with a Duty of Care Survey so that they can provide us with feedback on how they feel about our car finance and forbearance package.

Being Environmental; It’s Only Natural

A big part of our ethical mindset at Unity is the environmental aspect. We know that as a car finance lender, we have a huge responsibility to be as environmentally friendly as possible. As much as we love cars, we are also lovers of our natural world and want to do our utmost to protect it. So, we are extremely proud to be able to say that thanks to our ethical and environmental policies, we are a carbon neutral company!

In order to achieve our status as a carbon neutral car finance company, we have taken part in several initiatives. One of the key ways in which we have reached carbon neutrality is by turning our company car fleet into electric vehicles. We have also had electric vehicle chargers installed outside of our offices so that our staff are able to charge their cars while they work.

Another initiative that we have undertaken is to provide our staff with reusable water bottles and coffee cups. In an effort to reduce waste, these coffee cups and water bottles have meant that our staff are able to use the same beverage holder everyday, rather than chucking away a paper one every time we have a cup of tea. 

Another big initiative that we are a part of is Mossy Earth’s reforesting programme. We are working alongside Mossy Earth to help plant trees and regrow the forests of Caledonia. Mossy Earth runs a variety of programmes all around the world to help reforest and rewild nature reserves. We are a huge supporter of this initiative and we are very excited to be able to say that, so far, we have been able to help Mossy Earth to plant over 4000 trees in less than a year! We have achieved this by planting a tree for every person who gets car finance through ourselves. We are aiming for a target of over 10,000 by April 2023.

The Next Year at Unity

We are thrilled at the start we have made as a business, and we are extremely proud of all of our team and the efforts that they have made to make our first year of full trading so successful. We are delighted, also, that this has been recognised through our nomination for Best Independent Lender (Non-Bank Owned) at the Car Finance Awards 2022. 

Over the next fiscal year, we are making it our mission to help more customers to receive a car finance policy and to get their next vehicle. We are further aiming to implement new ethical practices to improve our customers’ experiences with us. For example, we have plans to start a programme where we send reminders to our customers for any anniversaries, such as MOTs, to help them to keep up to date with their vehicle’s maintenance. 

It’s a very exciting time for us here at Unity. We can’t wait to see where we are in a year’s time, and who knows, maybe we’ll be nominated for an award again next year!