To combat the supposed “Blue Monday” condition much talked about yesterday, we have decided that it should be good news week – as least as far as commercial finance is concerned! So what is good this week in our world?
Well the first thing is falling rates. Despite the wider market sentiment that rates are going up, we have seen two commercial lenders reduce their rates this week. This is a reflection of increasing competition in the challenger bank space for commercial and buy to let finance customers. So for example – Interbay have lopped around 0.5% of their rates, and further announced for commercial property deals that:-
– 75% LTV is now considered, up from 65% LTV;
– £50,000 minimum loan, down from £150,000;
– Fixed rates have been released with same rate for 2 year, 3 year and 5 year options;
Interbay are only one of many lenders that we can access so if this piques your interest please get in touch to find the best terms in the commercial finance space! Follow us for more good news later in the week!