Optimum Credit expands its Cardiff operations with Welsh Government support

The company has built up a loan portfolio of over £275m through a network of specialist third party mortgage brokers and now plan to build a retail channel lending directly to customers.

Optimum Credit was established in late 2013 with £600,000 business finance from the Welsh Government and backing from Patron Capital Partners – a private equity real estate investment house and one of the leading real estate managers in Europe. 

Welsh Government funding was for the creation of create 44 jobs over five years – the company has exceeded all targets and currently employs 82 at its offices in Dumfries Place.   

The company’s expansion is supported by £140K from the Welsh Government’s Growth and Prosperity Fund to create a further 23 jobs and will, in turn, trigger further investment into the company from Patron Capital Partners.

Economy Secretary Ken Skates said: 

“Optimum Credit is very much a made-in-Wales success story. The business has undergone rapid growth in a short time to take the number one position as the UK’s largest lender in the second mortgage market.

“This is quite an achievement in what is a highly competitive market and the company now plan to build on that success by offering their bespoke priced products directly to customers.

“I am delighted the Welsh Government is supporting their next stage of growth that will enable them to take advantage of new opportunities and create more well paid, highly skilled jobs. 

“Optimum Credit is a prime example of the innovative, high growth companies and established national and international centres in the financial and professional service sector that have chosen to invest and grow their businesses in Wales.”

Ian Praed, Optimum Credit’s Chief Operating Officer said; 

“We’re delighted to continue our positive relationship with the Welsh Government in the further development of Optimum here in Cardiff.  From the original start up support provided via their Growth and Prosperity Fund we have created over 80 jobs to date and look forward to adding to this number as we develop and roll out our direct to consumer proposition.”

A retail sales capability will enable Optimum Credit to expand its product range and interact with customers using their channels of choice, delivering through the internet and mobile technology.

News story: Honorary Queen’s Counsel nominations: deadline 1 September 2017

The Ministry of Justice (MOJ) is inviting nominations for appointment as Queen’s Counsel (QC) ‘honoris causa’ (honorary silk). Nomination forms must be completed and returned to MOJ by 1 September 2017.

The rank of QC is awarded to advocates (barristers and solicitors) who have demonstrated particular skill and expertise in the conduct of advocacy. It has been awarded in various forms for around 400 years. The rank of QC honoris causa is separate to these awards and are awarded to lawyers and legal academics that have made a major contribution to the law of England and Wales outside practice in the courts, which has not been recognised through other forms of honours.

Honorary silks were first awarded in the late nineteenth century and it has been the practice for governments to recommend a small number of lawyers and legal academics for the honorary rank with each round of substantive QC appointments. Despite its name, honorary silk is not part of the honours system and is administered separately within MOJ.

Eligibility criteria

In making a nomination you should ensure that your nominee meets the required criteria set out below:

  • the award is open only to qualified lawyers and to legal academics

  • the individual should have made a ‘major contribution to the law of England and Wales’

  • ‘Outside practice in the courts’ will generally mean that the award is made for an achievement other than a person’s normal practice as a lawyer or academic

  • QC honoris causa is not a ‘working rank’. It cannot be used in practice as a lawyer. Furthermore, honorary silk cannot be awarded as an alternative to the substantive QC rank for people who, for whatever reason, do not fit its eligibility criteria

  • Honorary silk is awarded only in England and Wales. There is no exact equivalent in Scotland or Northern Ireland. However, this does not mean that achievements of a similar nature cannot be recognised in those jurisdictions. If you would like to nominate someone, whose work is in Scotland or Northern Ireland, for an honour you can contact the Scottish Government or the Honours Secretariat for Northern Ireland.

We recognise that those who are not lawyers or legal academics make equally valuable contributions to public life, and may have done so in similar fields as legally qualified individuals. If you feel a non-legally qualified individual ought to be recognised, you can instead nominate them for an honour.

If someone is nominated for honorary silk who has been nominated for an honour this year or has already been honoured in the last year, it is very unlikely that we will be able to put their name forward.

How to make a nomination

We welcome nominations for honorary silk from anyone, no matter what your background. If you would like to suggest someone for appointment, please complete the Honorary QC nomination form (MS Word Document, 93.5KB) .

When completing the form please give as much detail as possible. The more we know about a nominee, the easier it is to assess whether they meet the honorary silk criteria. If we have only a limited amount of information about someone, it is unlikely that we will be able to recommend them for appointment. You can nominate as many people as you like, but please ensure that you keep their details separate.

You need to complete the nomination form and send it to us by 1 September 2017 preferably by email or alternatively post to:

Mr Martin Marston-Paterson
Ministry of Justice
Postal Point 3.16
102 Petty France
London SW1H 9AJ

Email: martin.marston-paterson@justice.gov.uk

Please note, we will only accept nominations which are submitted on the nomination form attached to this webpage. Letters of support for a candidate will not be accepted or attached to a nomination. In cases where more than one person wishes to nominate a single candidate, each individual must send in a separate form for the nominee. This gives a fuller representation of the candidate’s suitability for honorary silk.

Timing

Please ensure that your nominations reach us no later than 1 September 2017. Nominations made after this date cannot be accepted.

Contact us

If you would like additional information on honorary silk or how to make a nomination, please feel free to contact us by phone on 020 3334 0970, or by email: martin.marston-paterson@justice.gsi.gov.uk.

Help to Buy isn’t helping working people

New analysis from Scottish Labour has shown the SNP’s ‘help to buy’ scheme is failing to help working people.

The analysis shows the average annual income of households benefitting from the scheme was £46,000. Yet the median average income in Scotland is around £27,000 with many earning less than that.

Young people are finding it harder to get their foot on the housing ladder, with home ownership rates at the lowest they have been in decades among Scotland’s young people.

Those on lower incomes in particular are caught in a vicious cycle, being forced into renting because they don’t have the savings to afford a deposit, and then unable to save because of sky high private rents.

Yet the SNP’s ‘help to buy’ scheme offers no help. The top 15 percent of earners are more likely to benefit from the scheme than the average earner.

The reality for Scotland’s prospective homeowners is grim.

The SNP has taken a housing shortage and turned it into a housing crisis.

Labour would do things differently. We would start by building 60,000 new affordable homes in Scotland, tackling the dire shortage of affordable housing.

Only Labour can tackle the housing crisis and fix it for everyone – first time buyers, private renters and social tenants.

We can create better paid jobs by investing in skills and infrastructure.

To do that we need to use the powers of the Scottish Parliament and build a Scotland for the many, not the few.

Press release: North East men fined for illegal fishing

The Environment Agency is reminding anglers of the importance of having a rod licence after two men were fined for fishing illegally in separate offences.

They were caught during targeted patrols on the River Derwent in Gateshead by Environment Agency Fisheries Enforcement Officers

On 28 March this year, Kyle Taylor-Allen, 30, of The Crescent, Dunston, Gateshead, was found coarse fishing at Swalwell without a licence.

He was also fishing during the close season, which is prohibited, and using illegal bait.
He was fined a total of £770, ordered to pay costs of £127 and a victim surcharge or £30.

On 13 April this year, Peter Blackett, 53, of Waterbeach Place, Newcastle, was found fishing without a licence at Rowlands Gill.

He was also fishing during close season, using an illegal bait and he had taken and killed a fish while fishing without the landowner’s permission, an offence under the Theft Act.

The offences were all proved in absence at Gateshead Magistrates’ Court on 3 July.

‘It’s vital anglers abide by the law’

Fisheries Enforcement Officer David Shears said: “It’s vital that anglers abide by the law to protect the future of the sport and the quality of our rivers and fisheries.

“We work closely with our partners at the police, angling clubs and the Angling Trust to identify where illegal fishing might be taking place.

“Our fisheries enforcement officers work hard to target those people flouting the law and we won’t hesitate to take action.

“Illegal fishing can be more costly that you think and hopefully this will act as a deterrent for any angler thinking of cheating the system.”

The close season started on 15 March and runs for three months, preventing fishing for coarse fish to give the fish a chance to breed.

All income from rod licence sales is used to fund Environment Agency work to protect and improve fish stocks and fisheries, including improving habitats for fish and facilities for anglers, tackling illegal fishing and working with partners to encourage people to give fishing a go.

Buying a rod licence is quick and easy – you can buy one online on the gov.uk website

The Environment Agency urges anyone to report illegal fishing by calling 0800 80 70 60.

Press release: North East men fined for illegal fishing

The Environment Agency is reminding anglers of the importance of having a rod licence after two men were fined for fishing illegally in separate offences.

They were caught during targeted patrols on the River Derwent in Gateshead by Environment Agency Fisheries Enforcement Officers

On 28 March this year, Kyle Taylor-Allen, 30, of The Crescent, Dunston, Gateshead, was found coarse fishing at Swalwell without a licence.

He was also fishing during the close season, which is prohibited, and using illegal bait. He was fined a total of £770, ordered to pay costs of £127 and a victim surcharge or £30.

On 13 April this year, Peter Blackett, 53, of Waterbeach Place, Newcastle, was found fishing without a licence at Rowlands Gill.

He was also fishing during close season, using an illegal bait and he had taken and killed a fish while fishing without the landowner’s permission, an offence under the Theft Act.

The offences were all proved in absence at Gateshead Magistrates’ Court on 3 July.

‘It’s vital anglers abide by the law’

Fisheries Enforcement Officer David Shears said: “It’s vital that anglers abide by the law to protect the future of the sport and the quality of our rivers and fisheries.

“We work closely with our partners at the police, angling clubs and the Angling Trust to identify where illegal fishing might be taking place.

“Our fisheries enforcement officers work hard to target those people flouting the law and we won’t hesitate to take action.

“Illegal fishing can be more costly that you think and hopefully this will act as a deterrent for any angler thinking of cheating the system.”

The close season started on 15 March and runs for three months, preventing fishing for coarse fish to give the fish a chance to breed.

All income from rod licence sales is used to fund Environment Agency work to protect and improve fish stocks and fisheries, including improving habitats for fish and facilities for anglers, tackling illegal fishing and working with partners to encourage people to give fishing a go.