We are seeing more enquires from successful businesses that are looking to expanding, who are being offered new facilities but only if they can increase the rate on their existing loans. This can mean a rise of over 1% on the existing deal, which means it can be better to look at other lenders although they may be offering a slightly higher rate. We recently had a Client who had the original loan at 1.1% over Bank of England base rate, which was to be changed to 2.3% above on the existing and new loan, however we obtained a rate of 2.5% for the new loan, whilst allowing the client to retain their 1.1%.

Posted in Commercial Mortgages, Mortgages