What sort of range are banks typically lending at for secured business borrowing?
A member of my family is about 'go it alone' in his industry, which is a pretty sound proposition from a banker's point of view (I was one many years ago). He has approached his bank with business plan and a requirement for 35k of capital funding, which they're happy to lend him - at their 'standard' rate of 4 over base, secured with a second charge on his house.
When I was lending, this would have been at the expensive end of the secured spectrum - but equally, that was back when base was double where it stands now. Is this typical? Could he do better?