Commercial First is urging intermediaries to take advantage of the “untapped potential” of commercial mortgages as the market is poised to boom over the next 10 years.Philip George, managing director of Commercial First, says that the rising number of small businesses and the attractions of being self-employed mean now is a good time to enter this market, which promises to boom in popularity as the buy-to-let market did a few years ago. George says high street lenders do not have the resources to tap into the demand for commercial mortgages, as their service tends to be general rather than specialised. Just 15% of business goes through brokers but with earnings of up to 10,000 per transaction, the market is looking increasingly attractive. George told brokers at the Mortgage Business Expo that mail shots and communication with estate agents are good ways to access the market.
The Government has set the date for the compulsory implementation of Home Information Packs for June 1 2007. The Council of Mortgage Lenders though says it is disappointed with this timing, as it risks creating disproportionate disruption during the housing market busy period of spring and summer. The CML has been working extensively with the […]
Even if lenders hand over their affordability calculation secrets to sourcing systems – and they will be unwilling – integrating the data will be problematic, says Richard Griffiths
Following on from its appointment to the panel of law firms for London & European, Barnetts has landed another panel appointment.The Merseyside-based conveyancing and personal injury law firm has been appointed to HBOSs remortgaging panel. Barnetts is one of six firms in England & Wales to have made the grade.Nigel Payne, head of business development […]
Lenders have hit back at Mortgages PLC’s assertion that cascade underwriting is not in borrowers’ best interests. MPLC had warned brokers to treat cascade underwriting with caution before recommending an alternative product from the same lender to a client. Peter Beaumont, sales and marketing director at MPLC, says: “Cascade underwriting works to the benefit of […]
By Fiona Holmes, proposition communications manager When I first took out critical illness cover, I was overwhelmed. It wasn’t just the form filling, it was finding out about the sheer number of illnesses I was covered for. Did it give me peace of mind that I was covered for neuromyelitis optica or systematic lupus erythematosus? […]
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