Unlike the state-owned banks, the privately owned banks do not have government imposed restrictions on their lending activities, and as such, are providing some of the more attractive commercial mortgage products in the marketplace.
The reality is, in many cases, it's the fact they are providing products full stop that is their USP. I could give a number of examples of mortgages recently completed where the outgoing state-owned bank had refused to lend, and the incoming privately owned bank was prepared to look at them, and approved the mortgage.
There is an appetite among business development managers in privately owned banks to lend where they can, and to take a more objective view on the future of the business in question.
The bottom line is the private banks, which include a number of small, foreign entrants as well as the High Street, are not restricted to the extent that the public sector banks are, and the availability of products and terms in many cases reflect this.
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16 Facts At a click and a glance
1 - Why going into the High Street branch is not the best way to source a commercial mortgage, business loan, or business banking manager
2 - Brand loyalty does not pay. I'll explain why your current bank is not incentivised to offer a better deal
3 - Bank managers that understand your business do still exist, but they are not where you used to find them. Find out where they are, and how to access them
4 - The good news about Business Bank Credit policies: the criteria for assessing businesses is changing regularly, and in the main terms are improving
5 - Why your perfect borrowing history is of little relevance, and why its not personal
6 - You can profit from moving bank, right now, by accessing a much misunderstood fund, as well as improved terms
7 - Different banks like different sectors: what's happened
8 - State-owned banks: an update on where they are
9 - Privately owned banks: an update on where they are
10 - Interest only commercial mortgages: today's marketplace
11 - How a change of mindset can be of great help
12 - Why banks want to know your inside leg measurement, and why it’s not personal
13 - How to work out if a bank will lend to you, right now
14 - Debt service cover: what it means, why its important and the good news coming your way
15 - Why you may need to bank with more than one from now on
16 - If your business does not own property, nor wish to buy one, there are other, new, niche financiers available that can help with your requirements.
About Chris Davidson
Chris Davidson is Managing Director of Discover & Invest Ltd.
He believes passionately in providing businesses with market-leading financial insights that have a positive impact on the bottom line. As a result, Chris helps get the best rates and terms available at any one time.