UK Firms Struggle to Get Commercial Mortgages

According to the statistics published by the National Association of Commercial Finance Brokers (NACFB), small and medium-size enterprises of Great Britain find it hard to get commercial mortgages despite the fact that commercial lending is said to be on the increase.

The organisation says that an average of 35% of small and medium companies have their mortgage applications rejected. This finding comes at odds with the earlier statement, according to which UK commercial mortgage lending has increased by 19% from the same time last year.

Commenting on the statistics, Mr. Adam Tyler of the National Association of Commercial Finance Brokers said that banks do have to change their attitude towards small and medium-size businesses if they want to see British economy prosper.

Let us remind that in the end of August the Forum of Private Business was held and it was revealed that UK lenders tend to undervalue commercial development assets when it comes to using them as security for commercial loans.