Commercial Loan Difficulties-Explore the Fast Cash Finance Option
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Getting hold of a commercial loan in these straightened times is not easy. And that difficulty is likely compounded where your need to refinance an existing loan is clouded by threats of repossession. Unfortunately that is a situation that very many commercial property owners are finding themselves in. All too often lenders are looking to cut their exposure to the commercial property market, and so foreclosing the loan with undue haste, demanding the outstanding debt be repaid in full.
So where are your commercial finance brokers when you need their help most? The elephant in the room is that the new commercial loan you need from your commercial broker just isn't there for them either. Although there has been some easing of credit conditions over the last year, looking forward, the supply of credit does look like undergoing renewed tightening. What are the factors behind the current negative outlook for arranging a commercial loan?
Firstly the banks are concerned that a 'double dip' recession is looking more likely. With the withdrawal of spending from both the UK government, and industrial nations across the globe, there are legitimate worries that the UK's economy will be pushed back into recession. And no one wants to lend into another round of business failures, and an inevitably weakening property market, that such a recession will bring.
Secondly, the recent G20 meeting in Toronto has confirmed a plan of action for reinforcing the regulations governing bank lending - the so called Basle III directives. These cover how much capital banks need to set aside to cover the risk of their lending, and those capital requirements are going to rise. This means that the banks will be focussed on raising new capital, and will have less money available to lend. The knock on from that will filter down to the commercial property sector, with credit capacity reduced, buyers few and far between and finding an affordable commercial loan becoming more difficult.
For these reasons, your commercial broker may not be able to help you out with a commercial loan - even if you have commercial property in prime locations, and with excellent quality tenants, you will find commercial loans relatively expensive. So if your situation is urgent, and your broker is not forthcoming, where else can you turn?
This is where we may be able to help. SellMyCommercialProperty are a company with access to considerable funds, who are seeking exposure to the commercial property sector. We are looking to expand our property portfolio across the UK, and we can be your buyer of first resort- we can access our funds directly, without recourse to credit markets, and so can pay a fair market price for your commercial property fast.
SellMyCommercialProperty has a team of experienced professionals, operating across the UK, who can make an initial assessment and valuation within 48 hours. This allows us to release the value in your commercial property in a much shorter time frame than you might experience through a commercial loan from a broker. So get in touch with SellMyCommercialProperty today and we can turn your refinancing difficulties around and put you back in control.
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