What sort of range are banks typically lending at for secured business borrowing?
A member of my family is about 'go it alone' in his industry, which is a
pretty sound proposition from a banker's point of view (I was one many
years ago). He has approached his bank with business plan and a
requirement for £35k of capital funding, which they're happy to lend him -
at their 'standard' rate of 4 over base, secured with a second charge on
his house.
When I was lending, this would have been at the expensive end of the
secured spectrum - but equally, that was back when base was double where it
stands now. Is this typical? Could he do better?
OT Fed keeps banks afloat as money market crisis deepens ...Discount Window Borrowing Jumps to $262 Billion ... WASHINGTON During another turbulent week on Wall Street, lending...banks, could borrow on the same terms as commercial banks and with the ... backed commercial paper from money market mutual funds via a new ... (alt.sports.basketball.nba.la-lakers)
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Home loan interest Simple/Compound ... Generally banks profit is due to difference between the 'rate of ... interest' on lending and 'rate of interest' on deposits. ... charges are to be levied based on services provided, usage by customer...Recurring Deposits Term Deposit Savings and Current ... (misc.invest.stocks)
Re: Northern Rock yet again. ... The root cause is, as always, lending long while borrowing short. ...mortgage fallout in the US, ... AIUI it is because banks are more reluctant to lending to each other ... Darling bailed out Northern Rock"... (uk.finance)
Re: Finally - The Banks Lose ... Where is the incentive to stop the cycle if banks now ... I did say that they spent the past 10 years or more carpet bombing us through newspaper ads, TV ads, direct mailing and by turning all bank staff into little more than salesmen to send out the message "If you want it but can't afford it, we are the answer, borrow the money for it from us". ... I don't blame them and them alone, but to couple the mass message I talked about above with their willingness to lend to all and sundry almost regardless of circumstances then I do say they must take a major chunk of the blame. ... government will keep lending our money to them. ... (uk.legal)
