High street banks are often the benchmark for clients looking to borrow money. This is true of personal mortgages, loans and no less so for funding building projects. Most would agree that they provide the cheapest rates and all builders and developers are looking for the cheapest construction finance.The problem is that for most clients the high street are simply not an option at the moment, and from news I have had, nor will they be for the foreseeable future. I have dealt with clients who should be able to obtain bank funding, having clean credit, a good track record and years of experience in the sector. They are still being declined for various reasons, such as the loan amount is too low, the type of build is not what the bank wants, they have other loans that would need to be repaid first – the list goes on.However, just because your current bank will not give you construction finance does not mean that there are no options available to you. It does mean though that you should not judge quotes we, or others give you, on the basis that the rate of interest or fees might be more than you are used to or were expecting.Off high street lenders are NEVER going to offer building finance as cheap as the big banks. They are specialists filling a gap in the market, and to be frank, they know that your options are limited. Lenders such as this are mostly funded by investors who want to see a return on their money and the lender themselves need to charge a margin to stay in business. The market has set the rates that others are prepared to pay and so you have a stark choice – pay the higher rates or do not borrow the money. For those that are cash rich there is no issue but for the majority that want to leverage their capital it is the difference between building or not building.Of course, paying more for the construction finance means less profit for you, the developer, but it does mean you are making more profit than not doing any work at all. If you cannot get a project funded at a high street rate then the rates you have in mind or might want to pay are not applicable for comparison. A bank may have given you funds at 1.5% above base in the past but that is irrelevant now. The past is not today.The fact that building finance is available is good news but now is as crucial a time as ever to use a broker with experience and knowledge of the market. Making the wrong choice could cost you thousands in unnecessary fees and interest.Going through the internet looking for lenders directly is possible, of course. But how long will that take you? Hours or days? How do you know they will be the best fit for your project? Will they give you all the information you need day 1?Working with an experienced broker can make the process much easier as they will have a real understanding of how each lender works, the process they go through and what costs you can expect, before you get too far into an application.So, construction finance is out there but for your own sanity don’t automatically compare it to what you are used to and what you think should be available.
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How To Bring Originality To Your Business Ideas
If you are immersed in the world of internet marketing, you have probably heard many times the advice: don’t re-invent the wheel, follow someone successful. But simply copying a business idea is sloppy and might not get you the results you are dreaming about, just because it has been done already in that way. So how can you add a zesty twist to your business idea?Many people use the excellent technique of brainstorming. You simply write down, without editing, all the business ideas you can think of. Remember, you shouldn’t judge any idea at this point.The best place to start, of course, is to think of business ideas relating to your interests and passions, things you know quite a lot about or are passionate about learning more about. Anything can work: pet care, model airplanes, car accessories, home decorating, knitting…But identifying your passions and interests is only the very first step toward a great business idea. Let’s face it, many people have cats, for example and learn about the best food for their cat or all about the best product for eliminating tics. So how can you come up with original business ideas on such a popular topic?For your first business idea, try to stick with things you have experienced. Do you have a special tip to share with people? Something you learned while trying something new? Is there a life experience you can describe in detail and through it help others who are going through the same experience as well?The point is that you will always have an original twist to your basic business idea, because no one has gone through any experience in the exact way you did, with the same emotions and lessons, conclusions and thoughts…You will always have something different and unique to say about something common, some small change to offer to an already existing system, a personal perspective on things that gives you something to offer. There lies your personal bank of business ideas.A first original business idea can help you establish yourself as a brand name in the field of your interest. But what about other topics? What about your next business ideas?Continue to brainstorm, using associations and questions. Associations can help you identify smaller markets, different ideas for complementing products, such as a series of books or a suite of programs, create related websites and much more beyond that. The sky is the limit, plain and simple!The questions you can ask yourself about a business idea are, for example: does such a product already exist? Can I improve on the same idea? Is there a concern of people who share my interests that has not been taken care of yet? Can I come up with a simple solution to a simple problem?Remember, someone may have come up with a business idea you are interested in already, but you can always look for a personal twist of your own to add and make it uniquely yours.Brainstorming is the key to that mind vault of business ideas each one of us has. You can brainstorm everywhere, by your desk or in a restaurant. All you need is a piece of paper or an open file. Most people would prefer peace and quiet for this exercise.You can write single words or complete sentences, draw pictures that relate to your business ideas or any other technique that will keep the idea clear later when you review it. Let your brain run, don’t hold back.When you are done, you will be surprised at how many new and unique business ideas you can collect from this list. Simply add your personal twist and you are on your way to fulfilling your dreams.