More
High Street banks are turning down applications for
commercial mortgages as the credit squeeze takes hold – but there is a
solution.
More mainstream banks and
lenders are turning away people
seeking out residential mortgages and commercial mortgages thanks to
the recent
economic climate. The number of would-be-homeowners for example who
have been
refused a mortgage in the last six months has risen by 60%. As well as
residential homes this is impacting on businesses too – and commercial
mortgages are harder then ever to secure.
Commercial
Mortgages
Crack Down
Banks
are turning away businesses that are seeking
commercial mortgages and cutting their lending limits as their interest
rates
are rising in response to the global credit crunch. But it is still
possible to
obtain commercial mortgages from specialist lenders, such as Blue
Turtle
Finance. Fears over debts and the volatile global economy means that if
you
were in the process of securing a commercial mortgage for your
business, you
may be encountering difficulties. But you can find financial lenders
who are
sympathetic to your needs – even if you are looking for commercial
mortgages
and have had adverse credit.
Commercial
Mortgages
– Shop around
When it comes
to finding commercial mortgages it’s
more important now to shop around. Banks are not as willing as they
once were
to help – Blue Turtle Finance guarantees you will receive personal
attention
for your commercial mortgages application. Mainstream banks such as
Barclays
have turned down an estimated half of applicants for its Barclaycard
credit
card – and ‘at risk’ customers are being given tight credit limits. If
you are looking
for commercial mortgages, you can still find lenders who are happy to
help,
regardless of your financial circumstances. Many mainstream lenders are
undergoing a crack down on lending after warnings from the Bank of
England –
but the rules are becoming so strict that even if you’re behind on your
mobile
bill, you effectively could be on the ‘blacklist’. It’s estimated by
some
industry experts, that a whopping £50bn could be taken out of the
mortgage
market as a result of tightening restrictions. But commercial mortgages
can be
essential in allowing your business to grow, or to help you establish a
business. If you’re finding it difficult to get hold of commercial
mortgages
because of this financial belt tightening, Blue Turtle Finance might be
able to
help you.
Blue Turtle Finance is a family run business,
providing a first class,
friendly and professional service. Our clients are of prime importance
to us, we always take the time to listen to their requirements and
concerns. At Blue Turtle Finance we work with you, to achieve the best
plan to suit your financial requirements for commercial mortgages and
bridging loans. Blue Turtle Finance will not put you through to a call
centre but guarantee one to one personal attention from your initial
application right through to completion. Blue Turtle Finance specialise
in adverse and severely adverse credit. To find out more email: info@blueturtlemortgages.co.uk
or telephone: 0845 460 6616.
Click
here
NOW for a Quote!
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