This sounds all well and good but what happens in the interim, who is going to make the banks start lending and lending now. Flash Gordon wants to give more power to the FSA, God save us from that one, and DC wants to give all the powers to the grand old lady of Threadneedle Street the Bank of England, who have not exactly covered themselves in glory of late.
So, is it all promises and no do? Come on Gordon if you really want to stay in power, get off your rather large bottom and make things happen, do not just sit back thinking of Scotland in the hope that it will be all right on the day, because on the recent past record it will not be!
For the sake of the well being of this Country, politics should be put to one side and people should work together as in war time, to get the economy jump-started and moving forward. The lack of money for commercial mortgages, commercial finance, and business loans is holding back any chance of recovery in the foreseeable future and the attitude of the bailed out banks, in plain old English, stinks. They do not seem to care.
Anyone trying to arrange commercial mortgages,finance or loans is fully aware that they have an uphill battle even with the most straight forward of proposals. We accept that interest rate margins have changed and banks are building in some rather large fees, but the standard of service beggars belief from some of our High Street lenders who in the past would have far too proud to sink to the current level of incompetence.
It seems so simple, doesn't it that without the tax payer’s money HBOS and RBS would have sunk without trace, and as we have rushed to the rescue should we not have imposed iron clad conditions upon them to repay that kindness? It appears not! Maybe someone gets a pretty Christmas card and a bottle of scotch, but that will not get us out of the poo! We need action, not words, and strong leadership. If you are listening up there Mr Winston Churchill, and can tear yourself away from that rather large heavenly cigar and glass of spirit, can you please guide us with some of those wonderful words like 'if you are going through hell keep going'.
Sadly, the Winston Churchill’s of this world rarely come along with their leadership skills to guide us through the maze and inspire the population, so we will just have to grit our teeth and put up with the current mediocrity and pray that our banks open the doors to lending again for our commercial mortgages, finance and loans, and that Winston has a relative?
Michael J Alexander acommercialmortgage4you.co.uk
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