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Re-Finance
Rates go Up and Down but business or commercial lending is set against either “The Bank of England Base Rate” or “The LIBOR Rate”. It is the rate above either of these bench marks that we negotiate on your behalf and where the lenders make their profits.
The longer it takes you to seek advice the more money it’s potentially costing you!
What is a good rate? – With so many different sectors it is impossible to quote as each rate needs to be negotiated on the strength of the individual proposal and the “risk” we are asking the bank to take. Properties however, can gain value, companies/businesses become more profitable and risk diminishes. In short what might have been a good rate historically for your situation may be now be a gross waste of money that could be better placed elsewhere.
If, when you took your lending you were placed with a “self-cert” lender but now have trading figures, we could save you £1000’s each year. We recently reduced a rate by 4% for one client.
Regardless of who you are, even a saving of 1% on your rate would give you more working capital.
It will take just 10 minutes for a free assessment of your lending.
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