There are many commercial mortgage lenders offering various deals. This makes it difficult to know which is the best commercial mortgage suitable for your circumstances.
Price comparison sites can be useful, but they do not show all the available deals, and often have a commercial relationship with the lenders that means they may not provide unbiased results.
You can go directly to a lender or your bank, but they will only advise you on the mortgage deals that they sell.
Although you can find a lot of information online about commercial mortgages from websites, forums and social media sites, you can get more balanced information from a mortgage broker.
A mortgage broker will be able to provide advice on a wide range of commercial mortgages. A reputable broker will be regulated by the Financial Conduct Authority which makes sure that they provide unbiased advice. The mortgage broker has a duty to select the mortgage product most suitable for the borrower’s requirements. A broker knows specialist lenders who provide commercial mortgages for particular types of commercial property.
Some mortgage advisers may have more expertise in residential property. If you need a mortgage for purchasing commercial or buy to let you need your broker’s mortgage adviser to be an expert in commercial mortgages.
If you need £100,000 for a buy to let house, or £10 million for a large building development, a mortgage broker can find the best mortgage lender to finance the deal.