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06
News
Business failures
Scottish landlords
join the NLA
The National Landlords
Association (NLA), the leading
staggering
trade body for landlords, has
merged with the South of
Scotland Private Landlords
Association (SoSPLA).
This latest merger safeguards
the interests of landlords in
Equifax has released its Business lending to consumers and cent increase in failures.
Southern Scotland and furthers
Failures Report for 2008 as well businesses. “These figures reinforce what
their ability to communicate with
as for the last quarter of the year. “To see the number of busi- every economic commentator is
government at all levels, from
The figures reinforce the British nesses going bust for the whole saying - that we are not yet at the
local councils to the Scottish
Chamber of Commerce report of the year rise so significantly is turning point of the recession,
Parliament.
that the downturn has taken real very worrying,” he said. “But with the numbers of businesses
Jim Parker, chairman, NLA
hold in the UK economy with lit- what is equally worrying is the going to the wall highly likely to
Scotland, commenting on this
tle sign of any uplift so far. increases in failures in the last continue to increase in 2009.
latest merger, said: "We are
The overall increase in quarter of the year. Comparing It is, therefore, very clear that
absolutely delighted to welcome
business failures for the whole Quarter 4 2007 with Quarter 4 the efforts from Government,
the South of Scotland Private
of 2008 compared to 2007 is a 2008, there is an increase of 32.1 such as the loan guarantee
Landlords Association into the
staggering 18.2 per cent. per cent in businesses going into scheme and the initiatives by
NLA. As a result, we can provide
Equifax external affairs director, administration. And further evi- banks such as fixing fees and
a louder voice for landlords in
Neil Munroe, believes this dence is provided of how the releasing more credit, will be
the area, helping to raise the
shows the real consequences downturn has impacted on busi- absolutely crucial, especially for
profile of the private-rented
of the downturn in consumer nesses through the year when we smaller businesses struggling
sector and the contribution it
confidence, combined with compare Quarter 4 2008 with with cashflow management.”
makes to the housing mix.
continued restrictions on Quarter 3 2008, with a 24.2 per
"Crucially, we will be looking
to work ever more closely with
local authorities in the region in
order to ensure a fair balance
Business
Mayfair
between the needs of tenants
and landlords."
Jim Sharpe, founder member
Bridging
of SoSPLA, in welcoming this
confidence at
new development, said: "The
have New
SoSPLA, formerly known as
Wigtownshire Landlords
Association, has been
16-year low
Year sale
representing local landlords for
over 15 years and was the first
association in Scotland for
Mayfair Bridging have reduced
private-residential landlords.
British business confidence has It paints a bleak picture of their interest rates to 1 per cent
However, it is now more
hit a new low as firms, suffering firms' faltering expectations for per month as part of their January
important than ever for
from the harsh trading conditions sales, orders and profits, showing promotion. Director Yasin Patel
landlords all over the UK to
of recent months, are forced to that, for the first time businesses said, “Even in the current climate
come together in one unified
make tough decisions in order to are expecting a deterioration of Mayfair has a strong appetite for
voice. Not only does this mean
survive 2009, according to the lat- sales and orders - two key meas- the right deal. I can confirm to our
increased benefits for our
est Business in Britain survey ures of business confidence - out- introducers and packaging part-
members but also a greater
from Lloyds TSB Commercial. number those expecting ners that Mayfair Bridging is still
ability to influence public policy.
The survey's business confi- improvements. Expectations for lending and is very keen for new
We will be working hard to
dence index, which tracks firms' profits are also the worst on business.’’
guarantee a healthy and growing
expectations for sales orders and record. The new product will be
sector while helping to avoid
profits over the coming six John Maltby, managing extended into February and is
over-burdensome regulation for
months, has fallen to -32 per cent director, Lloyds TSB Commercial based on a maximum loan to
landlords.
- the lowest balance since the sur- said: "British businesses have value of 40 per cent. Shoaib Bux
"It is the beginning of a new
vey began. had a rough ride in recent said, “The product has proven to
chapter for landlords in
The report, based on the months. With demand on a be very popular with small busi-
Southern Scotland. And we very
responses of 3,450 UK firms downward spiral, it's small nesses as their current bank over-
much look forward to working
charts the performance of busi- wonder that they are feeling draft facilities have either been
under the umbrella of the NLA
nesses across the country and pressure on their finances and reduced or removed completely.
as Scottish landlords come face-
their views on prospects for the that confidence is at such a This product helps their cashflow
to-face with a wide range of
coming year. low ebb.” which is vital.
issues,”
December 2008 - January 2009 Commercial Finance Introducer
www.mortgageintroducer.com
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