We have been approached recently by a number of businesses requiring a commercial mortgage. The advantage of using XL Business Finance is that we have people working for us that have been in very senior commercial positions within banks and know exactly what the banks are looking for in terms of  information and types of deals. These businesses recognize that we can add value to the negotiations and dealing with one point of contact saves valuable time and resources. A Finance Director or Managing Director doesn’t need to waste time having interviews with several different finance companies when  they can pass over the responsibility to someone that knows exactly what the banks will do and what they are looking for in terms of property and clientele.

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In the current environment of banks being difficult in terms of providing new funding it might be worth mentioning another reason why a business should use another invoice discounting company other than their own bank particularly where a commercial mortgage is involved.

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Amongst all the turmoil of the last eighteen months we are still seeing one or two opportunities to fund management buyouts.  This makes a change from the business going bust and new directors and shareholders  buying  the business off the administrator. In terms of providing funding there are fewer options than there were before the credit crunch however asset finance is becoming more and more prominent as a option to top up other types of funding.

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There are so many business financing options available for a new start business.  Nearly all the banks can offer a plethora of funding options however which ones are best suited for a new start business.

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Business Finance covers a great number  of financial products many of which can be provided by independent finance companies as opposed to bank based lending. We would suggest that organising business finance has a great deal of benefits when using independentbased lenders. In the current economic climate it is advisable to spread as many types of lending with as many different lenders as possible. Never has it been more prudent not to have all your eggs in one basket. Fundng from asset based lenders is still relatively abundant therefore in theory it should be easier to be less reliant of the banks.

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Gone are the days when it was easy to get a mortgage just based on the value of the property. Until the credit crunch there were a number of commercial mortage companies offering funding of up to 80% of the valuation of the property. It was dead easy. It was just like getting a self certificated personal mortgage ( and by the way they have all gone from the market as well).

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Obtaining a commercial mortgage in a prepack could be an opportunity to purchase your own business premises for a significantly reduced amount. A prepack is effectively a pre organised administration. The day after a business goes into administration the directors purchase the old business off the administrator via a new company in a prearranged deal.

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Probably worth mentioning a few words on commercial mortgages. All the banks are telling you that they are open for business. What a load of codswallop. In reality there are a very few banks skimming the cream of the deals. The banks that are lending are only lending to their own customers providing you have a large deposit, profitable and have a very strong balance sheet.  The government owned banks are lending a bit but i’m sure they dont really want to be lending.  There are all kind of rumours going around as to why they are not lending. Is it because they need the money from the govermenment to strengthen their balance sheets or is it becuase they are playing on the bond makets as someone suggested to me recently? Probably because we are in a recession and they dont want to.

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