Business mortgage enquiries soar 132pc

Business mortgage enquiries soar 132%




Business mortgage enquiries have more than doubled in October, according to new figures from the National Association of Commercial Finance Brokers (NACFB).

Enquiries to the NACFB’s findSMEfinance platform were up 132% on the same period last year, representing a 75% increase on September’s figures.

London witnessed the greatest surge in demand for business finance, with 64% of enquiries coming from the capital.

Paul Goodman, chairman of the NACFB, said: “Appetite for commercial mortgage finance is a good indicator of small business confidence as it shows firms are confident enough to commit to the long term.

“Last month we saw a huge uplift in enquiries from a variety of businesses – ranging from publicans and smaller retailers to hairdressers and restaurants – so it’s starting to feel like the SME community has got over any Brexit-related nerves.

“While some of those businesses will also be looking to avoid steep commercial rents, especially in the capital, the confidence to take out a commercial mortgage bodes well for the future.”

The news comes less than a week after the government launched a new advisory panel to boost spending on small- and medium-sized enterprises (SMEs) across the UK.

On 24th November, Bridging & Commercial reported the launch of a £145m fund for SMEs in the North East.

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