Summer is just round the corner, the days are getting longer, the weather is getting warmer and everyone seems a little more optimistic as the dark dark days of winter 2008/09 are fast becoming a distant memory. In fact I know things are getting better as I’ve even seen the start of green shoots from our commercial lenders.
Now, don’t get me wrong many commercial lenders are still airing on the side of caution and we’re not going to see a return to the old ways of lending any time soon but things are starting to move. Many of our lenders are currently reviewing their products and taking a more broad minded view of clients’ commercial borrowing requirements in terms of owner occupied and investment properties.
Clients too are starting to feel more confident about the market, with many taking advantage of property prices and interest rates being at an all time low. Couple this with the fact many clients have seen a drop in the interest on their savings and many still believe that despite the recent drop in value, bricks and mortar are still a safe long term bet. This has translated into us seeing a sharp increase in the number of clients looking to invest in commercial property.
Green shoots of recovery. Really
When is criteria not the critiera?
Has the house come down on the development market?
So what can you hope to expect from today’s commercial market? Well, we have lenders keen to lend, rates are approx 3.25% + BBR, LTV’s up to 75%, serviceability requirements vary enormously while self cert is still available up to 70%.
There is an appetite for commercial both from lenders and clients out there so make sure you don’t miss your share.
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