Key Commercial Finance said that the lower rates were being fuelled by the number of commercial lenders escalating, with new ones entering the market.
It also reported that high street banks were competing for market share within the ‘trading business’ market.
With regards to short-term property finance, the broker claimed it had received recent quotes of 0.75% per month for short-term speculative commercial property funding, with no exit fees.
Key claimed that a similar deal two or three years ago would have been priced at 1.25% per month.
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Tony Newham, director at Key Commercial Finance (pictured above), said: “The current market is very good for businesses, developers and property professionals to raise funds at very competitive prices.
“We’re seeing lower rates across virtually all sectors of finance, even unsecured business loans.
“However, it’s vital that those seeking funding for a project make use of an experienced broker that can source funds from the whole market to ensure the right finance is obtained in respect of the funding need and at the best price for that requirement.
“There is a sense that the cost of finance will rise if the Bank of England increase rates, but that could depend on how the various lenders are funded and there will still be low rates available from specialist and niche lenders that brokers, such as Key, have access to.”