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LIME launches commercial mortgage proposition

Tenets Lifetime Insurance Mortgage Experts network has launched LIME Commercial, with the aim of simplifying the process around commercial lending and the different routes to do business.

The proposition includes two routes – direct to lender and via an introducer facility.

For the former, LIME has teamed up with four key lenders, Abbey, Bank of Scotland, Commercial First and Royal Bank of Scotland, to enable advisers to retain full control of their client and responsibility for all advice.

Secondly, the introducer facility allows advisers to introduce their client to approved packager, The Business Mortgage Company, which subsequently takes full responsibility for the advice and any sales process, while paying the adviser a fee for the lead.

LIME has also produced a complimentary commercial lending fact sheet, which is available on the member extranet along with a guide to identifying regulated mortgages and relevant compliance guidance to ensure advisers have clear direction to adhere to Financial Services Authority and network rules.

Keith Richards, group distribution and development director for Tenet, says: “We are always looking to extend LIME’s proposition in line with our member’s needs.

Commercial lending has its complexities and our new offering will give members clear direction in this area, as well as an introducer or direct to lender route, enabling them to capitalise on opportunities in this growing market.”

LIME will also continue to develop the proposition to meet the demands of its members.


July lending reaches 19bn

Further lending figures from Major British Banking Groups show July’s gross mortgage lending was 19bn, some 7% below the record figure of 20bn in June, though 19% higher than the 16bn in July last year.

Market Watch

Swaps fell sharply last week with the longer term swaps falling much further than the shorter ones. Hopefully this should mean the end of lenders repricing their fixed rates upwards for a while and if we see more falls in the future we may see some cuts. However, my guess is we’re a couple of weeks away from that at the moment.

  • One-year money is down 0.04% at 5.20%
  • Two-year money is down 0.12% at 5.14%
  • Three-year money is down 0.14% at 5.13%
  • Five-year money is down 0.15% at 5.07%
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