With Lancashire Mortgage Corporation

Each week we bring you a step by step guide to setting up and completing a commercial loan

This week it's step 2:

Commercial isn’t complicated

For many brokers, there can be a pre-existing and inaccurate stereotype that Commercial Finance is complicated; which is preventing the opportunities to offer a wide range of products and criteria to their clients.  The perception of funding being difficult also comes from high street lenders restricting their criteria and the availability of finance.

There is a stigma with commercial loans that they are a lengthy process.  Unlike residential loans, obtaining commercial finance is dependent on individual circumstances and factors such as property assessment, which in turn leads some brokers to believe that the process is too complex and ultimately they don’t bother and miss out on valuable sales.

Commercial finance from specialist lenders however, is actually far from complicated and in fact, can often be done quickly.  With high street banks and other larger organisations; getting a decision can take some time; but with specialist lenders you will get definite and quick answers and work with specialists in this type of funding.

It needs to be remembered that lenders are keen to develop their relationships with brokers, and will not only work to get the right funding for their clients, but will strive to be available at all stages of a case to make it as simple as possible.