I was one of a small group of Bradford business people in touch with what is happening on the ground in Bradford that attended an audience in Bradford with Sam Simpson, Deputy Agent for the Bank of England.
The main point for discussion was the apparent lack of mainstream bank support for Small and Medium Enterprises (SMEs) in the Bradford area, and also the difficulty of securing funding for commercial property purchases.
Although owner-occupiers may have more success in gaining borrowing facilities at a reasonable cost, for the majority of Bradford property entrepreneurs it is the case that cash is very much king right now.
The Bank of England emphasises that they cannot determine individual banks lending criteria, though they do have more regulatory powers as from April 2013.
New banks are now emerging and starting to offer property loan facilities in the Yorkshire Region and this is a step in the right direction.
Whilst no-one in their right mind would want to see a return to the collapse of major banks in the UK, it would be good to see a better sense of balance in commercial property lending.
Thanks go to Nasreen of Platinum Partnership Solicitors for arranging this important Event.