Commercial Lender Unable to Help - Get the Finance You Need Now!
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Are you looking for a commercial lender, but finding credit either not available, or too expensive to take up? There are many other investors and owners involved in the commercial property sector who are experiencing similar difficulties. A commercial lender is normally the first port of call for those seeking, for whatever reason, commercial property funding and their lack of capacity now is a worry.
It could be that you are seeking commercial property financing in order to raise much needed equity that will power your firm's next expansion. Or maybe your need for a commercial lender arises from the fact your current property loan is about to expire, and you need to arrange a refinancing of it. More ominously, your commercial lender could be seeking to curtail their exposure to the commercial property market, and so foreshortening the loan, demanding the outstanding debt be repaid in full. You may then be desperately seeking a new commercial lender to plug the gap.
In all of these scenarios, the elephant in the room is that the new credit you need from your commercial lender just isn't there for them either. Despite some easing of credit conditions over the last year, credit supply does appear to be moving to a period of renewed tightening again. The bank's willingness to lend has been hit by a number of new factors.
First there is the worry over a the prospects of a so called 'double dip' recession- that the recent fiscal tightening will withdraw a prop from the UK's economy, pushing it back into recession. Then there are the gathering of clouds over the new Basel directives- these regulations govern how much capital banks need to set aside to cover the risk of their lending. The recent G20 meeting confirmed that these requirements will be tightened and the knock on effects are filtering down to the commercial property sector. A commercial lender is facing both a lack of access to cheap funds himself and the prospect of a softening property market.
For these reasons, unless your commercial property in is a prime commercial location, and tenanted with quality businesses, it will be difficult to find a commercial lender able to meet your equity release or refinancing needs. Or if they can do so, it will be at a high and possibly unaffordable price.
There is another approach that can be taken, that can give you access to the funds you need, without the costs of a commercial lender. SellMyCommercialProperty are a new entrant to the commercial market who are looking to expand our property portfolio. We have a substantial pool of funds allocated for exposure to the UK's commercial property sector. This means we can be your buyer of first resort - we can access our funds quickly to expedite sales, are can pay a fair market price for your commercial property.
SellMyCommercialProperty has a team of dedicated professionals available country wide, who can conclude the process of assessment, valuation and actual sales agreement with the utmost speed. This allows you to release the equity in your commercial property much more quickly than you would experience trying to arrange refinancing with a commercial lender. So make contact with SellMyCommercialProperty today - we are keen to show you we can help to resolve your refinancing issues.
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- Business Refinancing - How to Raise Capital in the Credit Crunch
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