Lombard’s withdrawal from the broker market has not come as a great surprise, according to the National Association of Commercial Finance Brokers (NACFB).

However, the chief executive of the NACFB Adam Tyler said that the decision could be the “final straw” for some vehicle brokers.

“It’s a sad indication of the state of the market that one of the biggest lessors for brokers has had to close its doors,” explained Tyler.

But, the impact of Lombard’s total withdrawal will have been lessened as many brokers had their lines cut some months ago and had sourced other funding lines, according to the NACFB.

NACFB’s director for vehicle finance Andy Bell added: “The vehicle leasing broker model is mature, robust and continually evolving, funders will come and go and brokers will do what they have always done adapt and move forward."