About time I say! Alistair Darling is hauling in the big bank chiefs and asking them this basic question:

The current base rate is 0.5%. Why are most loans either inaccessible or priced at rates in excess of 5%?

Here Here!

We need loans and we need them fast. I hope after their good telling off they leave number 11 and change their pricing and lending criteria.

There is only so much the government can do. If commercial organisations have the power to cripple small, medium and large sized businesses then it could be time for banks to be properly nationalised. I hope it does not come to that but it seems that it could be the only option if the banks sit tight.

I have had to pull out of some purchases (which I really hate doing as it damages my credibility) and juggle a bit of my cash reserves so I can complete on some properties I am buying. However looking forward, if the lending situation does not change then my purchase rate will have to slow down. Arrrgghhh!

If you are a small landlord (less than 20 properties) you should be alright as there are BTL lenders who will look at you. If you have more than 20 then you might have exceeded exposure limits set by banks. The only options after that are the commercial lenders.

So I am really interested in the outcome of Darling's little chat and see if they will act. Do you reckon they will? No, nor do I!

Ajay

Posted on: 27th Jul 2009

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	Home Services Property News Free Resources Partners Contact Page you're viewing > Home Page > Property News > Property Headlines > All the bank chiefs have been summoned to the head About time I say! Alistair Darling is hauling in the big bank chiefs and asking them this basic question: The current base rate is 0.5%. Why are most loans either inaccessible or priced at rates in excess of 5%? Here Here! We need loans and we need them fast. I hope after their good telling off they leave number 11 and change their pricing and lending criteria. There is only so much the government can do. If commercial organisations have the power to cripple small, medium and large sized businesses then it could be time for banks to be properly nationalised. I hope it does not come to that but it seems that it could be the only option if the banks sit tight. I have had to pull out of some purchases (which I really hate doing as it damages my credibility) and juggle a bit of my cash reserves so I can complete on some properties I am buying. However looking forward, if the lending situation does not change then my purchase rate will have to slow down. Arrrgghhh! If you are a small landlord (less than 20 properties) you should be alright as there are BTL lenders who will look at you. If you have more than 20 then you might have exceeded exposure limits set by banks. The only options after that are the commercial lenders. So I am really interested in the outcome of Darling's little chat and see if they will act. Do you reckon they will? No, nor do I! Ajay Posted on: 27th Jul 2009 Bookmark: del.icio.us digg Furl Facebook Reddit Yahoo Spurl Smarking Simpy Stumbleupon Tell a friend Your name Friends email Life is funny sometimes Want to borrow the deposit OK i�ll lend it to you Rates to rise Letting Managers Wanted Property Negotiators Wanted Property Negotiators Required Computer says NO again Do you have a client base Get 30+ BMV Deals EVERY Week I have a busy 16 months ahead How long will it last Buy to Let lending on its way back A bank has said YES FT reports boost in buy to let 92 per cent off Ducking n Diving want a chat how 10 minutes can change someone�s life loop hole for the 6 month rule discovered I have been quiet for a reason never miss a deal get a free consultation, READ NOW Property Networking why I buy high yielding property 2010 is the year that property got going is it the return of the NINJA if you have bad credit you can still INVEST Hip Hip Hooray Radical changes at the Ahuja Group Yesterday was a historical day for buy to let 17 alternative finance brokers and lenders This is as creative as it gets my finance journey has started property funds fall flat on their face join me in my journey in to the world of finance 90 per cent off my new book to my subscribers only I failed the credit check I am really annoyed with the lenders 3 really useful ways to home in on specific deals read my clients wishlist can I ask you a question did you watch the election debate last night? 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