Can A UK Commercial Mortgage Broker Save Me Money?


As a business person you are always conscious of the bottom line. Even a small amount of money saved is that much more to put into your business.

Given this, it’s surprising how many business people don’t look beyond their bank when enquiring about a commercial mortgage. The banks have little or no incentive to offer you the most competitive deal. You might be surprised at how much better you could do by using a UK commercial mortgage broker.

• The UK commercial mortgage broker is able to shop around among a huge number of lenders. Thus he/she is likely to be able to find you a deal that easily beats the best offer the bank can make you. In fact, in many cases the broker can get you a deal with the bank itself, but at a better rate than you would get by doing it via that same bank. Strange but true! And even a 0.5 per cent difference in interest rates can mean thousands of pounds a year saved on a loan of several hundred thousand pounds.
• The UK commercial mortgage broker knows exactly what to look for. Once the broker has established your exact requirements and financial situation, he/she can use a computer program to scan the entire market to find the lender that best meets your requirements and is most likely to accept you. Then the broker can fill in a form on your behalf making sure it is filled in in the way that is most likely to ensure acceptance. If you had to look through the market yourself, and make applications to numerous different lenders, it would take you countless hours. The broker can save you a lot of time, and time is money!
• Once you have entered into a relationship with your UK commercial mortgage broker, it becomes an ongoing relationship. As your business grows and your needs change, your broker can help you move your existing mortgage to take advantage of better interest rates as a more experienced business person – and perhaps shorten your mortgage term as well.

Remember your UK commercial mortgage broker is also a business person and fully understands the ins and outs of business financing. The broker is bound by his/her professional code to provide the best possible advice for you – and this is almost certain to be advice that will help your bottom line.

 

Please note that the FSA do not regulate commercial loans or commercial mortgages

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