Tips for borrowers under finance facilities: Update February 2009

Few will now argue that the global recession has arrived. Forecasts for 2009 are generally far from optimistic and the effects are already being felt here in Australia. No more evidence is needed than the recent Rudd Government response to the concerns of commercial developers obtaining refinance for loans by foreign lenders. The so called, “Rudd Bank” highlights that for the next few years at least, existing borrowers will need to:
 

• consider carefully the ease with which they will be able to refinance existing loans and
• ensure that existing facilities are conducted in exemplary fashion.

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