We celebrate out 15th anniversary this year and are proud to have been associated with the care sector for this length of time. We are aware that during the past 18 months or so we have seen a period of real uncertainty in financial markets, so think that this is probably a good time to introduce a regular bulletin to our customers. Our intention is to let you know of what is happening amongst lenders and indeed providing you with some basic information of anything else that may be relevant to the sector.
A number of lenders have obtained preferential funding from the European Investment Bank. The distribution of these funds does not however appear to have led to them offering terms that are consistent across the board – the main thrust of the funding is that it allows banks to offer discounts from their normal margins. This applies to purchase finance only. We see these discounts ranging from 0.5% - 0.8% dependant on lender, some banks will restrict the discount over a short term, others offer it over a longer term. Some banks are restricting the advance to relatively small loan amounts, others are not. Frankly it’s a confusing picture so please feel free to ask us which lender will be the most appropriate for your own particular circumstances.
Whilst it has never been cheaper to borrow money due to base rates at around 0.5% we also see that lenders have increased margins and fees – again it’s a confusing picture, lenders are looking at ways of increasing profitability (through increased margins, minimum rates, insisting on hedging products, increased arrangement fees etc). Again a quick call or email to us will mean that we can guide you through the maze to the deal that is best for you – and not necessarily the deal that is best for your bank!
We have researched the CQC transitional registration requirements and will be happy to email you our information sheet.
This is our 15th year in business and we are proud to have served the care sector for this period. We have seen many changes but remain convinced that we support a superb business sector offering a fantastic service. We know that we will have challenges to overcome in the next couple of years but the sector will meet these head on and we will continue to offer our full support.
Three of our people are raising money this year for good causes –
Richard Henshaw will run in the London Marathon and wants to raise funds for the Scouting movement.
Ian Dunlop will take part in the Manchester Shine overnight walk in support of Cancer Research.
Jerry Webb will take part (for the 3rd time) in the annual, 78 mile, London to Brighton off road bike ride, to raise funds for the British Heart Foundation.
We wish them well.
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