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Commercial lenders still support brokers, says NACFB
22 May, 2008
Following the Mortgage Business Expo in Manchester and reports of a lack of lender support for residential brokers, Adam Tyler, chief executive of the NACFB, believes the commercial sector still supports brokers.
He commented: “The recent unfortunate trends seen in the residential mortgage market, of lenders turning their backs on brokers, has not been followed in the commercial sector. Commercial lenders are still committed to the broker market and, if anything, are as keen now as they were twelve months ago to secure their share of broker introduced business.”
Tyler continued: “Although times are undoubtedly tough for commercial brokers right now, with many lenders reducing their maximum LTVs and tightening their criteria, many lenders are still keen to work with brokers. This could be seen at the Mortgage Business Expo – as many of the lenders who did exhibit were centred in the Commercial Zone. Although the markets are very difficult, in some ways it’s never been a better time to be a commercial specialist because money is much harder to come by so business owners and managers need all the help they can get to secure those vital funds.”