If you run a business and are thinking about buying your own premises, there are good reasons why now is a good time to do it – said Andrew Page, Commercial Finance Manager of Seico Group.

Here’s a quick look at the Top 3 reasons why now is a good time to invest in owning your business premises…

Banks want to lend to owner occupiers

Whatever you think of the High Street lenders, and your opinion is probably well-founded, they need to lend money in order to make money themselves. They continue to set themselves annual targets for lending money and need to find clients to lend it to. 15 years on from the financial crisis, they can still get twitchy about lending to commercial property investors but see trading businesses (owner occupiers) as a better risk because the customer has so much more of themselves invested into the project. By lending to entrepreneurs and to those who have the pluck to make something happen themselves, they help the economy and to safeguard jobs. This gives them a warm glow. If you are someone with the aforementioned pluck, you might be surprised at what options are available to you.

There is downward pressure on interest rates

We’ve recently seen an escalating price war between banks and building societies on residential mortgage rates, despite the Bank of England raising the base rate to 4.0% at the beginning of February. This squeezing of rates is also evident in the business and commercial market. Even if you adhere to Mrs Truss’ view that the financial markets are a left-wing conspiracy, there is a lot of evidence that the volatility we saw before Christmas has passed and this makes forecasting a more certain and confident process. 

Commercial rents continue to rise

There is a staggering amount of data out there, but the overall perspective is that rents will rise over the next 3 years, particularly in the industrial, office and healthcare sectors. In much the same way as individuals wish to own their homes due to the future certainties this provides, the same rationale applies to businesses. 

In summary, funds are available in the market now, to those wishing to purchase premises for their business. I know this because at Seico I speak to lenders on a daily basis. I can do that on your behalf to find the right structure from lenders across the whole market place and a pricing model to suit your business. 

Whatever your business, I’d welcome the chance to discuss your plans and the finance you’ll need to make them a reality. Please don’t be shy about getting in touch. 

Email: andrewpage@seicogroup.com
www.seicogroup.co.uk/commercial-finance
Tel: 01273 778888