MIp36-37_0110:MI 12 Jan 15/12/2009 14:26 Page 3
Commercial Finance Introducer
37
might make you feel like you’re doing FSA to draw some boundaries to ensure that the months and who have been as ‘open for business’
something, but the chances of exactly the same experienced landlord is not hampered by as possible (under the circumstances!). These
things cropping up again can be pretty legislation designed to protect an unwary institutions deserve some credit for being
minimal. novice. supportive in a very difficult time. And, in the
Regulation is hugely expensive and many So apart from the regulation challenges main, they were rightly rewarded at our Annual
sectors within the market are very fragile. We as offered by 2010, what else can the broker expect Awards ceremony last month, for keeping the
an Association, have seen members leave the to face next year? doors open when many of their counterparts in
market altogether because it’s simply too Well, first of all, some liquidity returning to the market had pulled up the draw bridges.
difficult to make a living. And although I the market has to come first on any 2010 wish I suspect that 2010 will see the market ease
fundamentally agree that the vulnerable list. Despite all assurances from the main banks for brokers – but it won’t be an immediate
consumer must be protected, no amount of and, at our recent conference, a representative change. I hope, for the sake of many of our
regulating the buy-to-let mortgage market will from the British Bankers’ Association; I do not struggling members, that the changes come
protect them from a faulty property investment for one minute believe that the banks are lending sooner rather than later, but if I look into my
decision. ‘more that ever’ to small businesses. And crystal ball (for what it’s worth) I think any
repeating this mantra time and again is not going significant level of relief won’t arrive until the
Caveat emptor to make it true. Unhelpful comments from Sir second half of the year. And I should point out
Caveat emptor should still be part of the Alan Sugar about ‘whinging’ SMEs don’t make it that this will be nowhere near a return to the
financial services rulebook; indeed it has to be, as true either. Banks are not lending more than ever heady days of 2007; but hopefully lenders should
no regulation can prevent someone from to small businesses – in fact some of them don’t start looking for ways to do deals, rather than for
choosing to buy something as an investment appear to be lending a great deal at all. ways not to do them.
which, however unfortunately, makes them no Whatever happens, I am hopeful that when
money. That is the risk behind a commercial Thank you some sort of market does return experienced,
investment decision. But whatever the Treasury But, I would like to take this opportunity to established, commercial brokers will be in an
tries to put forward in the name of consumer thank those lenders who have stood by the - excellent position to regain their positions within
protection, we are working with them and the broking community for the last twelve painful the new commercial finance arena.
www.mortgageintroducer.com January 2010 Mortgage Introducer
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44