As we now start to approach the 5th anniversary of the demise of the banking and funding marketplace as was (doesn’t time fly) we see no prospect in the short to medium term of a change to the conditions seen over the past few difficult years.

Economic conditions remain challenging and reported data does not provide any encouraging signs of improvement. 2013 has already seen a number of high profile casualties on the high street and the deficit figures for UK PLC remain bleak. However certain sectors remain strong, including the residential property investment market with strong demand from tenants.

We spent a great deal of 2012 helping clients refinance facilities with the demand for new money still depressed. We continue to work with a number of new names who have a niche in providing term funding against residential and commercial property portfolios. We also have been involved in refinance schemes where the new provider is happy for an element of the debt with the old provider to have been left behind (the term ‘debt forgiveness’ has certainly grown in usage over the past couple of years). We have seen a number of lenders choose to pull out of the UK marketplace and now a growing number of clients are looking to move away from their existing lender.

These include Yorkshire Bank and Bank of Ireland to name but a few. However, it is not all bleak for borrowers – we have continued to place clients looking to acquire freehold property and those capitalising on low property prices. Growing rental demand means this a perfect time for those wanting to invest, with the entire market to choose from. We are securing very good pricing for clients as well as those banks also offering some “racey” incentives to clients such as “cashback“ or heavily discounted rates in order to win the business.

Lenders continue to demand a very detailed presentation to accompany a funding request, which is where we have seen a lot of successes where others have failed; a poor presentation and the absence of information will often lead to a decline.

We enjoy a strong relationship with funders and have a detailed knowledge of their exact requirements.

As ever, please do not hesitate to contact us to discuss any funding requirement.