Different types of lender

* Introduction
* Overview
* What We Need to Know
* Pros and Cons
* Repayments
* Types of Lender
* Getting a Quote
High street banks and building societies are not necessarily the best place to start looking for a commercial mortgage, although major banks often have advisory services which can be helpful. If you have a good relationship with your bank, it is worth checking to see if they can help you.

You can save both time and money by finding a specialist lender who understands the specific needs of your industry. There are also many lenders online. Be careful which one you choose and ensure that they are certified

Using brokers

A mortgage broker's role is to help you to find the best mortgage to suit your needs, giving you impartial advice on products, and steering you through the mortgage application process. Once you have successfully obtained your mortgage, your broker will continue to monitor it to make sure you are getting the best deal.

It's important for small businesses to get the right kind of finance at the best price. Many commercial brokers work in specific business sectors, and someone working in your sector might be able to help find you a special deal.

Using a broker can save you a lot of time, as they have specialist market knowledge and will be able to find certain deals that are only available through brokers. However, it can cost you more than if you arrange your own mortgage, as you may have to pay the broker commission on top of the standard mortgage arrangement fees - see the page in this guide on commercial mortgage fees and costs.



If you would like a quotation, please use our Mortgage Quotation Wizard and we will ensure you get the best deal available for your business.

Mortgage Wizard

If you prefer to speak to a mortgage consultant, please visit our contact page and use the contact method you prefer, Email, Telephone or Post.

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Reproduced with the permission of Business Link (http://www.businesslink.gov)

The overall cost for comparison is 10.53% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. Early repayment charges apply. A broker fee of 1% may apply.  Your home may be repossessed if you do not keep up repayments on your mortgage.Our Financial Resources directory is available here