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Growing business

There has been an explosion of interest in the commercial mortgage market among brokers so it’s time to grab a piece of the action, says Andy Young

In recent years, huge changes in the commercial mortgage market have occ-urred, creating exciting opportunities for lenders and brokers to establish a new income source or develop an existing one.

High street banks such as Barclays, NatWest, HSBC and Lloyds TSB have until recently dominated commercial lending. There was little alternative to the almighty bank manager.

How to help brokers’ clients raise funds

A mortgage of 875,000 was arranged on a self-cert basis at 4.25% above LIBOR. The mortgage was completed within two weeks of offer, meeting the deadline set by the court. We managed negotiations with the client and gave periodic updates to the introducer, who received a commission of 13,125 for providing the introduction.

Reasons for growth in the commercial sector

Changes in attitude by banks in recent years.
The effect of new lender entrants.
The effect of non-status and self-cert lending on the market.
The impact of market changes on brokers and businesses in general.


Dear Delia

Dear Delia, one of my clients is attempting to remortgage one of the buy-to-let properties in his portfolio. The property is 150,000 and his portfolio is 1m. He bought this property speculatively about three years ago and the rent only just covers the mortgage. At today’s interest rates, he is going to face a serious problem. Do you have any suggestions? Delia says: Your client has a number of options available to him as Brian Murphy of Mortgage Advice Bureau and John Heron of Paragon Mortgages, point out.

Have you got a problem for Delia? Email launches with PMS

Premier Mortgage Service mortgage club has agreed a distribution deal with Clegg Gifford Private Clients to release a bespoke mortgage service for individuals or businesses worth 250,000 or more.Sopisticatedmortgages,com aims to reduce the size and cost of servicing a mortgage by making the most of international tax laws, as well as fluctuating foreign exchange and […]

Halifax says 29% of detached property owners will pay IHT

Halifax research has shown that nearly one third of detached property owners in the UK could be liable to pay Inheritance Tax. The bank says 29% of detached house prices now occur above the 2007/08 IHT threshold of 300,000 but five years ago only 16% of detached properties were sold above the then IHT threshold […]

Speak out on competence issues

The regulator has published a consultation paper on changes to its training and competence regime and industry players must make their opinions known, says Bill Warren

Health Shield

Product guide — health cash plans to suit all shapes and sizes

This guide, called ‘Health cash plans to suit all shapes and sizes’, provides information on Health Shield’s standard and tailored cash plans, which are designed to satisfy all business and employee needs. Each scheme can be offered on a voluntary, company-sponsored or flexible-benefits basis.


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