If you were Gordon Brown in the current market where its been all bad news and the MPs getting a lot of bad press for doing things that you and I could not do and get away with it and keep the ill gotten gains, would you have not prayed for some good news in the residential or commercial property market to come along and divert all the slings and arrows of discontent away from number 10.
Far from being contrite our MPs just say it was allowed within the rules, forget about whether it was morally right and if they were doing the right thing for the voters who put them there to represent them. For the first time ever you almost do not want any distractions and for parliament to have to suffer and realize that we are not happy bunnies.
Our money has been poured into the banks to save them from going bust, without consulting us, and it is our money and to add insult to injury no firm mandate was extracted to get the banks to start lending and oil the wheels of recovery.
There are small signs with the EFG scheme which is sponsored by the government, that there is a realization that lending has to start again now if we are to see the green shoots of recovery anytime soon.But like most government schemes they are long on wind and short on action. Commercial Mortgages Finance, and Business Loans are the life blood of this country and businesses cannot survive or grow without access to it.
The heart beat of business in any country is a good banking system that helps and encourages businesses to grow within their means, and sets out guide lines for a successful business to work within an agreed budget but also gives encouragement and will be flexible to adapt to a changing business that needs to grow and will provide help and assistance both technical and financial to help when required.
When you take away what we have come to accept as being the right arm of our business even experienced commercial brokers have been hard pushed to find the right solution that clients need to help them survive or push on and expand. Private funding has become popular with investors coming in as equity partners or providing senior debt. We have certainly seen some radical changes that will not go away when normal lending returns.
But what will normal lending be for Commercial Mortgages Finance and Business Loans, will the margins be wider, will the charges still be so prohibitive, and will the handcuffs come off. Watch this space.
Michael J Alexander acommercialmortgage4you.co.uk
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