Commercial Mortgage

phynbarr

Hi

I am in the process of investigating the purchase of a boarding kennels. I should be quite a good bet financially as I have a substantial deposit and a pension to go towards mortgage payments

Brokers I have been put in touch with are quoting 1.5% arrangment fee and whilst I have no wish to do anyone out of their just rewards, I wondered what a broker brought to the table and whether direct approach to lenders might be worth exploring

foxy-stoat

phynbarr wrote: »

Brokers I have been put in touch with are quoting 1.5% arrangment fee and whilst I have no wish to do anyone out of their just rewards, I wondered what a broker brought to the table and whether direct approach to lenders might be worth exploring

If you knew which lenders to approach then go for it.

I would of thought that a broker who knows their market and which lender is going to be interested will be enough to bring to the table for their fee.

Thrugelmir

phynbarr wrote: »

I should be quite a good bet financially as I have a substantial deposit and a pension to go towards mortgage payments

Lenders are unlikely to take a bet. They are going to require something more substantial before making an advance.

amnblog

If your Bank will do it they will probably uncut anything a commercial broker can provide but the Bank will also charge an arrangement fee.

If your Bank wont do it, consult a good Broker and be prepared to pay commercial terms for a commercial service.