In a statement released yesterday, Commercial Loan Company reacted to the uncertainty within the market and the idea that, if the rumours are true, the non-conforming market could almost halve in the next few weeks.
Adrian Slack, director of Commercial Loan Company, said: “Naturally our hope at Commercial Loan Company is that the ‘credit crunch’ is just a short-term blip. However, like everybody else, we do have to keep our eye on the money market as the lack of liquidity is forcing all lenders to review their products.
“To that end, Commercial Loan Company will be working closely with its lenders to ensure that any necessary re-pricing as a result will be kept to a minimum. Furthermore, while rate rises may be unavoidable, we will certainly not be turning away investors that have secured a mortgage with us in the past few weeks as some companies are doing.
“Even against this financial backdrop, Commercial Loan Company is well placed to help you with your commercial enquires. We believe that the long-term viability of the commercial buy-to-let sector will not be affected and that there is still money to be made here. Commercial buy-to-let has proven to be more profitable than with residential properties so, even with higher interest rates across lending, we would still expect yields to make investment worthwhile.
“While we wait to see the full outcome of these unprecedented market conditions Commercial Loan Company will continue to support its brokers and introducers.”
