About 70% of all residential mortgages in the UK are financed by brokers, and in some sectors this number is even higher. However, when it comes to commercial finance, business customers also prefer to deal directly with their bank.
In the United States, brokers arrange 80% of commercial loans. In the United Kingdom, approximately 80% of commercial loans are offered directly by lenders, with just 20% arranged by brokers.Feel free to visit their website at mortgage broker near me for more details.
Business customers in need of commercial finance advice, such as a commercial loan, mortgage, or other business finance product, can find that an unbiased finance broker has a lot to give them in terms of a reliable service, fast results, and saving them time that would be better spent in their business rather than trying to find finance.
Unlike domestic and Buy to Let mortgages, commercial mortgage rates are rarely fixed in stone. As a result, each mortgage is priced according to the borrower’s unique circumstances. When a business customer establishes a partnership with a bank, they begin to take advantage of that relationship because they understand how time consuming it is to arrange a commercial finance solution such as a commercial mortgage, loan, or factoring package, so they give you a rate that has little incentive.
If a business owner wants to get the best offer on the market, they must devote time to studying the various commercial loans available and determining the best source of business financing, as well as knowing the terms and conditions of the product available and the lenders’ processing criteria.