Business accounts
- Thread starter s.p.t plastering
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johniosaif
Private Member
To the smaller guys, 300 to 500 k properties the banks have no interest in us, I once asked HSBC if I bought a property for 400 k would they lend 100 k for the works and they said it was too high a risk, developer friends of mine who deal in the big money will get money from the banks but they have to go through hoops too.
johniosaif
Private Member
That was early in the downturn, they were very worried and were clawing back, in 08 I had a 200 k marker on a 600 plus house, work was quiet, they took all they could, interest 2.5 above base and some principal too. Now I think they might be more amenable, London property is rocketing.
xyzplasterer
New Member
HSBC is good.
I got 2 years free. You have 2 accounts, one for transactions and a holding account. When I get paid just transfer tax into holding account to cover tax for each job. Transfers instantly and you can see accounts side by side.
I also have a Santander account when I get paid cash I pay it ino that account, then transfer to HSBC. Because HSBC charges.
I got 2 years free. You have 2 accounts, one for transactions and a holding account. When I get paid just transfer tax into holding account to cover tax for each job. Transfers instantly and you can see accounts side by side.
I also have a Santander account when I get paid cash I pay it ino that account, then transfer to HSBC. Because HSBC charges.
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