Loanoptions launches commercial division
The secured loans specialist has highlighted the commercial mortgage sector as a potentially lucrative niche area for brokers.
Introducers provide the client’s basic requirements then Loanoptions.co.uk completes the process, keeping the broker up-to-date and seeing the case through from application to completion.
Andy Moody, managing director of Loanoptions.co.uk, said: “The success of the loans introducer service convinced me the market was crying out for a commercial mortgage service where brokers could outsource their enquiries and know their clients would receive the right service, without having to waste valuable time on research in an area in which many are unfamiliar.”
“By teaming up with lenders such as Commercial First, who have been instrumental in making commercial loans more accessible to residential mortgage brokers, we aim to set a new benchmark for service in this increasingly important niche,” he added.
Stephen Johnson, sales and marketing director at Commercial First, commented: “I have been impressed by Loanoptions.co.uk and the way it has been successful in marketing secured loans. Our companies share common goals in bringing new ideas in lending to the intermediary market and we look forward to being part of the new Loanoptions.co.uk commercial service.”
The move comes after a Commercial First survey revealed 85 per cent of respondents are receiving enquiries regarding commercial mortgages, as exclusively revealed in Mortgage Introducer last week. However, the survey also revealed 10 per cent of brokers who had received these enquiries have no facilities to process them.