Most of our high street lenders have all but closed the doors except to existing customers, and the general guidelines to lending seem even tighter than they were previously. They all talk the good talk but talking and lending is very different, anything that even looks like risk of faintly smells of risk is a certain non starter
They might as well say the rich only please who have lots on money but want to borrow some money to keep the wheels of industry turning over but could repay at the drop of a hat. That’s not lending its just playing a silly little game of pass the money parcel, do not pass go do not collect two hundred pounds do not land on Mayfair and Regent street or you could go bust.
For there to be a recovery that we will see in our life times, we need to get the wheels of industry and commerce turning again bring with it the confidence that full time permanent and secure employment gives you. You can move house buy a new car, go on holiday, have new carpets or a new bathroom and kitchen.
When money is flowing it goes around the system and we all benefit, people will buy goods and go out for meals and take holidays. The out flow of money from building societies around 2.3 mill last month tells its own story. People are now using their savings to live and pay the bills and in these cases people will not spend any money that they do not have to, its essentials only.
In business we have to have access to commercial mortgages, commercial finance and business loans, it’s the life blood of financial services without which grapes grow on the vine but do not ripen and wither. Its not rocket science Mr Brown, remember the old song, money money money makes the world go around. I do not know who wrote it or sung it, but they were years ahead of their time.
When we are in such need of the banks opening their doors and all we get is excuses perhaps Mr Brown should take a leaf out of dear old Winston Churchill’s book when he said, It is no use saying we are doing our best. You have got to succeed in doing what is necessary. There you are Mr Brown what is necessary for this country to get out of the mess we are in is to give our businesses a fighting chance with access to all the funds that they need, commercial mortgages , commercial finance, and business loans QED..
Michael J Alexander acommercialmortgage4you.co.uk
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