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Making a difference to small businesses

For the past few years the government has been urging banks to lend to small firms. Yet despite frequent calls on lenders to do their bit for the recovery it seems they are failing to comply.

Lenders have squeezed their criteria so tight that only the bare minimum of businesses have managed to obtain funding at a time when small firms need finance more than ever.

Small companies need to grab opportunities which can mean they need cash quickly. And if getting funding from mainstream lenders is difficult, getting it quickly is impossible.

This is where second charge bridging finance can be of use as it can provide the funds to fill the gap left by high street lenders.

We recently assisted a broker partner in helping a client to complete on a commercial transaction relating to their business.

Although the client had exchanged on a particular purchase there was a delay in receiving commercial finance from their bank – a situation many small businesses will be familiar with. So they needed second charge bridging finance to fill the void.

The client was looking for funds in the region of £600,000 by way of a second charge loan secured on their main residence. We provided this within a matter of days and the client was able to complete the transaction.

Examples like this demonstrate that fast, efficient second charge bridging can mean the difference between a business’ ability to grow and it being rendered stagnant.


Mortgage advice firms were down 10% in 2011

The number of mortgage advice firms fell by nearly 10% last year, according to figures from the Financial Services Authority. In December 2010, there were 4,364 firms whose primary business was giving mortgage advice but this fell to 3,937 by December 2011. Mortgage advice firms peaked at 8,509 in December 2007, 53.7% higher than in […]

Halifax launches two products for NewBuy

Halifax has become the fourth lender to launch a range of 95% LTV deals for the government’s NewBuy Guarantee scheme. In March NatWest, Nationwide and Barclays were the first three lenders to launch products for the scheme. NatWest only offers its products direct, while Barclays is offering its deals through a limited number of brokers […]

The Mortgage Mole

Big talk The biggest man in mortgages met one of the biggest men in politics last week, when Eric Pickles, secretary of state for communities and local government, visited the offices of Brightstar Financial in Essex.

Week in numbers

8.1% – The annual growth rate of the Chinese economy in Q1 2012, lower than expectations and down on 8.9% in Q1 2011. 0.3% – The percentage consumer prices edged up in March, mainly due to the rising cost of petrol. £13.8m – The amount Goldman Sachs was fined by the Securities and Exchange Commission […]

Abe and Modi

Investment ideas to power returns

We believe the most exciting stockmarket opportunities today are in those places where a new generation of leaders are successfully transforming economies and companies in favour of investors. In a new investment guide and website, which is suitable for use with your clients, we set out our views on these reformers. Click here to find […]


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