New report questions banks aren't lending line - Business Leader News

New report questions banks aren’t lending line

chrislogoA North Somerset commercial finance specialist has questioned the well versed media line that the banks aren’t lending, with a new report.

Sheridan Financial has released its UK Commercial Mortgages Intelligence Report 2013.

The Report says that the message the media conveys about the ‘banks aren’t lending’ is not correct, and competitive lending terms are available.

Chris Davidson, who is a Partner at Sheridan, comments: “It is our experience that in 2013, the current media speculation surrounding secured commercial lending is not entirely accurate.

“Whilst it is true that some banks are not lending, others are, and it should be encouraging to hear that better terms are happening for a number of businesses, right now.

“It is also exciting that firms can now profit from the process of changing mortgage provider, contrary to many reports.”

Chris further comments: “Media speculation has all but sucked the enthusiasm out of business owners, and as a result most would not even consider approaching their bank, or another.

“Our recent experiences in 2013 have shown that for solid businesses suffering from restrictive lending conditions, there are other avenues that offer genuine hope, as well as a demonstrable and profitable solution.

“Whilst a recession undoubtedly changes some parameters, it is not all doom and gloom.

“Lending appetite is more than ever about the contacts you have within the banks. Knowing the right contacts can give you much quicker access to what is possible, and what is not.”

To read Sheridan’s Commercial Mortgages Report 2013, click here