What are the benefits of using a broker?

The contacts and commercial knowledge for the best deal.  They present your case to the lender on your behalf.

Brokers that are NACFB (National Association of Commercial Finance Brokers) members can be relied upon to have Professional Indemnity insurance and to abide by a Code of Practice.

Whilst it is beneficial to do your own price comparisons, applying for finance at multiple lenders may affect your credit rating if you are not accepted.

Lenders generally require a deposit of around 25% - 40% of the total value and mortgage terms can run for 1 year up to 40 years.

Obtaining a commercial mortgage is based on the ability of your business to be able to repay the loan.

Lenders will assess this ability of repayment before issuing a quotation for the interest rate.

Typical documentation you may be asked to provide would be financial accounts for 3 years, bank statements and business projections.

You may need to provide a detailed business plan which will demonstrate that the repayments can be met.

Past and current performance along with future plans of the business will be looked at.

The interest rate quoted may be based on these factors and, as a result, may be higher if a high risk is identified.

Often lenders will take the property being purchased as the security of the loan (typically 75%) along with a deposit for the balance of the purchase price.

If a deposit is unavailable, additional security could be offered in the form of other property with e equity in it and we are able to take security as a second charge behind your existing lending provider

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I can confirm completion has taken place and the funds have arrived successfully in to my account today. I would like to thank you for all of your help and professionalism during this process, it has been straight forward and a breath of fresh air compared to some previous brokers I have experienced, and very much appreciated. I look forward to the next time we can do business together (hopefully sooner rather than later)

Some of our Lending Partners