UK banks ready to work with franchises
Recent reports published by Nationwide, suggest that buying a home just got a bit more expensive. The price of a home in UK rose for the fourth consecutive month. The rise in prices was about 1.6%. The low interest rates offered by banks have been cited as one of the major reasons for increase in property prices.
The Bank of England has kept the interest rates constant at 0.5% for the past five months. The increase in property values could be an indication of the things to come. It is obvious that the prices can vary considering the current economic scenario.
However, a positive response has been initiated by the banks in UK who have agreed to support franchises through its lending policies.
Banks in UK have expressed their willingness to work with reputable franchise businesses which have proved to be successful in the past. The bank has also stated that an assessment of the firm’s financial records will furthermore determine if the bank wants to enter into a relationship with the particular franchise. Registration of the particular franchise with the British Franchise Association (BFA) also ranks high on the priority of UK banks.
Considering the recent economic scenario, the UK banks are laying more stress on the detailed business plan and strategy of the particular franchise.