Lancashire Mortgage Company

margotj

We have an offer in principal for commercial mortgage of 50% of value. I have been reading some not so good reviews about this Company, which is a subsidiary of the Blemain Group. Can anyone advise if it is approved, are we doing the wrong thing ?
Many thanks

Thrugelmir

Where were the reviews published? What are your concerns?

GMS

If you are eligible for a better rate with a lender elsewhere then you could be doing the wrong thing but there is usually a good reason for using Lancashire, i.e adverse credit or no accounts.

Did you try anywhere else before using Lancashire?

Reading reviews can give misleading information. Reviews are 99% poor ones so not a lot of good feedback to weigh up against.

margotj

Thankyou - we went through a broker who came back with this offer in principle. Good point re. reviews - normally 99% poor ones !

margotj

I found reviews on a website but as I am new user I am unable to send the thread.

Sorry!

Thrugelmir

What terms have you been offered?

Senior_Paper_Monitor

A lot of brokers have limited experience of - and limited access to - commercial lenders, compared with residential that they deal with every day.

This may or may not apply to your broker (and as expressed above it all depends on your circumstances as to wheher Lancashire/Blemain are the right answer).

Commercial lending is far more of a black art than residential and really needs a broad business understanding/analysis on behalf of the broker