Our History
1922
HACKING AND PATERSON – THE BEGINNING
Founded in 1922 by William Hacking and David Paterson based in Clydebank, the main operation of the business was the factoring of the original Glasgow tenements and the collection of rents on behalf of landlord owners.
1945
WWII – A SIGNIFICANT TURNING POINT IN THE PRIVATE RENTED SECTOR
From 1945 onwards, H&P were heavily involved in the changing landscape of the ownership of tenement property.
Along with the demolition of tenements through the slum clearances and acquisition by local authorities, tenement flats were sold by landlords, mainly due to government enforced rent controls, which deemed it no longer commercially viable to invest in this type of property asset. This in turn created a growing owner occupied sector which included many sales to sitting tenants.
H&P’s role as property factor evolved through this period to accommodate such dramatic change with H&P becoming an agent acting for multiple customers in the same tenement.
1970
GROWTH – MOVING TO THE CITY
Growth, through and beyond the war years, saw the firm operating offices from Glasgow City Centre, Dalmarnock and Helensburgh before the 1969 relocation to their present day home at 1 Newton Terrace, an end terraced Victorian sandstone tenement on the edge of Glasgow City Centre in the original business hub. Since moving there, the firm, through further growth, now own and occupy 2 and 3 Newton Terrace which currently house over 100 of the H&P team.
1975
GLASGOW TENEMENT IMPROVEMENTS – 1975 – 1985
The great storm of January 1968 accelerated the original improvement plans for a large number of Glasgow tenements and in conjunction with the 1971 Housing Act which provided a funding source, substantial renovations were undertaken across Glasgow. H&P were heavily involved in the administration and facilitation of these repairs throughout the city.
1985
FIRST VENTURE INTO FACTORING OF MODERN DEVELOPMENTS
Having incorporated (1980) a separate company Hacking and Paterson Management Services (HPMS) to specifically handle all Property Factoring customers and with the surge in new building construction in the 1980’s, HPMS diversified into what is now modern property factoring with an appointment to their first contemporary property, the development at Balgonie Woods in Paisley, built by Sir Alfred McAlpine Homes Scotland Limited.
We are proud to continue providing factoring services to this development and others for nearly 40 years.
2004
EXPANSION ACROSS THE COUNTRY
Having built up a substantial portfolio of homeowner customers in the east of the country from an initial appointment in 1998 by Bryant Homes, HPMS opened their Edinburgh office in 2004. From a simple start of just 4 staff, the Edinburgh office has thrived through growth of business and now consists of a team of 24 HPMS staff, supported by an Associate Regional Director and an Associate Factoring Director, covering Aberdeen to Berwick and everywhere in between.
2012
PROPERTY FACTORS ACT 2011
The Property Factors (Scotland) Act 2011 came into force on 1st October 2012 and provides protections for homeowners who engage with a registered property factor. The Act introduced a Code of Conduct that sets out minimum standards of practice to which all registered property factors must adhere. This Code was revised in 2021 at which point we amended our Terms of Service and Delivery Standards to ensure they not only not only satisfy the minimum required standards but operate at even higher levels for the benefit of our customers.
2014
HACKING AND PATERSON MANAGEMENT SERVICES – FACTORING IN THE FUTURE NOW
With our commitment to continued improvement of our customer experience, since 2014 we have been investing heavily in IT systems. We launched paperless communication, a new, easy to navigate website, our My H&P web portal and we were the first property factor to introduce a Smartphone App linked directly to our customer accounts.
We continue to Factor in the future – now.
2020
NAVIGATING THROUGH THE PANDEMIC
The COVID-19 Pandemic presented challenges to businesses throughout the world. Our comprehensive contingency plans ensured our customers experienced as little disruption as possible and this period enabled us to adapt our business model to incorporate new ideas and develop our service offering to further enhance our ability to deliver the best factoring experience for our customers. Successfully navigating through and out of the pandemic has allowed us come together to realise our greatest strength – the human spirit – and through all of this, we were able to re-emphasise what is most important – our people and our customers.
2022
CENTENARY CELEBRATION
In 2022 we celebrated our 100th year of business. This presented the ideal opportunity for us to reflect on the successes and challenges our business has experienced over the last century and to acknowledge the significant institution it has become today. We celebrated the loyalty and endeavours of our staff amongst friends, colleagues and business associates who have supported us over the years, and we were pleased to be able to “give back” through our Community Gifting Programme where each current member of staff was invited to choose a local good cause to whom we made a donation in honour of our important event.
2023
NEW PASTURES IN THE EAST
With the significant growth of our business portfolio in the east of the country, our Edinburgh team moved to new, modern office premises at Verdant, South Gyle, Edinburgh in September 2023. The welcoming space and inspirational green environment further motivates our team to continue to provide a first-class factoring service for the future.