Non-Standard Finance plc ('NSF')

28 February 2017

Market developments in home-collected credit

NSF has noted the announcement by Provident Financial Group PLC, the UK's largest provider of home-collected credit, that it intends to substantially reduce the scale of its agent network and change the way it operates its home-collected credit business so that all of its remaining self-employed agents will have to become full-time employees.

Along with many other regulated home-collected credit businesses, Loans at Home operates through a network of self-employed agents, many of whom are attracted by the flexibility to work when they want to, often so that they can meet family or other work commitments.  Such flexibility helps us to attract quality agents living in their local community which means they are well-placed to deliver good outcomes for our customers.

We continue to believe that a network of self-employed agents is the preferred structure for our home-collected credit business - a model that that has stood the test of time since the business was started in 1938 - and are continuing to recruit agents with previous home credit experience.

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