The construction industry is facing its most challenging period in many years, and companies and individuals in the building supply chain will need to be increasingly astute if they are to weather the difficult times ahead. Although lending levels have reduced, it is still possible to obtain new lending facilities or refinancing on good terms. For construction businesses, it's a question of finding lenders who understand their sector and are committed to supporting companies through the bad patch.With UK banks feeling the credit squeeze, allocating capital to satisfy demand has become more difficult, so lending costs are at levels not seen for the past 10 years. And with continuing instability in the global economy, those who have put their plans on hold until pricing and fees come down to more favourable levels before looking to refinance or to take on more debt could be waiting for longer than they thought.
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