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.
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.
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 around 100 of the H&P team.
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.
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 over 30 years.
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 22 HPMS staff, supported by an Associate Regional Director, covering Aberdeen to Berwick and everywhere in between.
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.