UK commercial mortgages

[amybt23]

The mortgage loan market is quite huge in UK what with more than 200 different financial organizations supplying mortgage loans to people. Well, I find that the main reason of their popularity is mainly due to the trust shown by the people who are in need of money. Even I have taken mortgage loan twice to overcome some financial problems. But, at times one might get confused in selecting a loan provider, as the market is full of them. In fact, there is a neck-to-neck competition amongst them.
However, what I suggest that it is better to take help from a reputed commercial mortgage price comparison company to know which lender is the best one.
Any further suggestion or advice on mortgage?


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Good way for mortgage price comparison - search with
"businessfinancequote"
:|

[Ian J]

what I suggest that it is better to take help from a reputed commercial mortgage price comparison company to know which lender is the best one.

I've found that online price comparison sites for financial products invariably do not provide the best deal and in my opinion a far better service is provided by specialist finance brokers who know their products and not those that are clever with software

[stilesa]

Can I just add in there that specifically in terms of commercial mortgages, it is unlikely that there will ever be any software or comparison site. Each and every commercial mortgage is different. The needs might be the same (development finance, bridging, mezzanine, joint venture, private equity, land banking), but the company wanting to raise the finance (and the owners of the companies) will never be the same. Commercial mortgages are invariably bespoke - a broker however will know which banks do what based on the type and structure of the deal.

Hope this helps.

[ItsARiot]

I would say I like the online comparison sites the best because it is right in front of you. However I would say when I am actually serious about choosing one I would call or discuss in person because you could argue for lower rates in person but not online :). Here is some good info on that stuff
http://www.britishinformation.com/business-mortgage/
or commercial remortgages
http://www.britishinformation.com/uk-commercial-remortgage/
or just for more information in general
http://www.mortgages.co.uk/commercial-mortgages/Commercial-remortgages.html
http://uk.moneto.eu/financing/personal-loans/avoiding-debt/debt-consolidation/remortgage/
As you can see I am a fan of finding most of my info online! hehe I just think it is good to know what is out there, in terms of rates, so that if you speak with one mortgage company they can't try to charge you too much!

[Gillie]

I am a fan of talking to the person wishing to take out money for their business to make sure they are getting something that is right for them ... this you cannot do on an online comparison site, it will merely give you usually the best figures going and wont take into account small details which will alter the whole thing, so that they then head to the lender and have a shock when they can't quite get the deal they thought they were getting.

Another thing about chatting to someone about it such as a broker, is that they have their finger on the pulse and know which lender is pushing which deal at the moment and who had a target to hit so is giving better last minute deals etc. Those come from personal knowledge of the lenders and formed relationships not from reading a figure thats generalised on a website.

[amybt23]

I've found that online price comparison sites for financial products invariably do not provide the best deal and in my opinion a far better service is provided by specialist finance brokers who know their products and not those that are clever with software

I agree. However let me add that everyone have their own way of finding the answer. Online price comparison site result can be taken as reference but when it comes to making decision, it is good to take expert help. Its just my view.

[deniser]

Most commercial mortgages are negotiated individually. The terms depend on your relationship with the bank.

[amybt23]

[/quote]....hehe I just think it is good to know what is out there, in terms of rates, so that if you speak with one mortgage company they can't try to charge you too much! [/quote]

Hi,
Thanks for the info.:)

[amybt23]

Most commercial mortgages are negotiated individually. The terms depend on your relationship with the bank.
Can a person without good mortgage knowledge do successful negotiation?
Shall he seek expert help to negotiate on his behalf or you think is it good that he negotiate himself??:|

[amybt23]

.. this you cannot do on an online comparison site, it will merely give you usually the best figures going and wont take into account small details which will alter the whole thing, so that they then head to the lender and have a shock when they can't quite get the deal they thought they were getting..
I agree. I too feel online comparison site is good to take the idea but decision must be made by consulting the specialist.

[Ian J]

I agree. I too feel online comparison site is good to take the idea but decision must be made by consulting the specialist.

Which in the case of commercial mortgages is probably Gillie

[amybt23]

.... in the case of commercial mortgages.....

Oops i missed that. Thanks Ian for correction.