Bankers meet with business leaders - commercial mortgages

12 November 2008

The British Bankers' Association (BBA) has met with the government's Small Business Forum to outline the support lenders will give to firms to help them through the economic downturn.

Hosted by business secretary Peter Mandelson, the meeting was called so that the BBA could reveal the promises banks are set to make to business customers to aid them through the "bad times".

BBA chief executive Angela Knight said the aim of the gathering was to make sure "everyone pulled together" for the objective of supporting firms in the wake of tough conditions.

"We are determined to help our customers make the most of their businesses and part of that is to ensure they have access to finance," she remarked.

Extra support from banks could be a boost for those with commercial mortgages.

Meanwhile, Lloyds TSB has revealed that it is to pass on the full Bank of England base rate cut of 1.5 per cent to all small business customers.