InterBay confesses to 'bucking the trend'

Colin Bell said that whilst the larger commercial market is feeling more of an impact and suffering from a lack of funding, the smaller self-cert commercial market has proved to be significantly less volatile.

"Businesses of this size are not investor held but owner-occupied, and in terms of simple supply and demand, businesses always need premises, just as people need houses,“ said Bell. "The buoyancy of the market is also driven by the increasing number of UK SME’s, which currently employs 50 per cent of the nation's workforce.

Bell said that there would be a "necessary juxtaposition" between lenders and brokers in 2008 as lenders shift focus to the core areas of their business, and brokers embrace diversification to replace lost income streams.

This may well prove to point them in the direction of self-cert commercial business. However Bell warns that this will only be a viable option if brokers act fast, with late adopters finding themselves "casualties on a tough playing field."

InterBay's national programme of training seminars could be of help to brokers test the water, providing valuable knowledge of how to generate and process commercial mortgage applications. The National Association of Commercial and Finance Brokers (NACFB) also offers a good range of training and support.

For Bell it is still business as usual: “Due to our sensible and proactive long-term approach to business, we are in the enviable position of being able to sustain our current momentum and continue to grow and develop our personnel, products and technological offering.

"Our heritage in the US and Canada adds to our security here in the UK. Globally we currently close on average 10,000 loans each year, and only expect this figure to continue to grow.

"Building and embedding strong relationships with brokers and packagers will remain our number one priority in 2008 and we look forward to offering support to those intermediaries whose New Year’s resolution is to diversify into the lucrative commercial mortgage market.”