According to figures from the British Bankers' Association, mortgage approvals fell to 42,613 in February, down by 4.6 per cent on the figure recorded in February 2016.
Re-mortgaging also dropped off to 25,414, 9.5 per cent lower than the 28,088 approved in January, and gross mortgage borrowing hit £13.4 billion, up 4.6 per cent year-on-year.
With traditional funders not lending as readily as previously experienced, alternative methods to source finance is becoming increasingly popular.
Our partner business, BM Structured Finance, has strong relationships with a number of providers and they will work together to tailor the facility to best suit your individual business requirements.
Contact Simon Belton of BM Structured Finance to find out more about the various funding options available to you.
At Beavis Morgan, our property experts have extensive experience in advising individuals and businesses on all aspects of the property market. We act for a broad range of property investors and developers who actively need advice on how to best structure their property deals, both to ring-fence and protect their property assets, as well as to minimise the tax arising from their business operations.
For further information about how we can help you with your property ambitions, contact Steve Govey or your usual Beavis Morgan Partner.