First, we agree that partnering with a specialist broker is good advice. This is a message we actively promote.
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However, I believe he is a little out-of-date in grouping Commercial First with other self-cert only lenders. We have been lending for over five years and our range is now significantly wider than just this niche. We provide products for clients with full status and accounts, as well as self-cert, adverse credit and those buy-to-let investors looking to add commercial property to their portfolio. Our blended margin, volume of origination and portfolio performance evidence this range, something that is clear in our sixth public securitisation, a £0.5 billion deal that closes in the coming weeks.
On the subject of customers being potentially mis-sold a non-conforming commercial mortgage, this is an issue that we take very seriously. Our products cover a broad spectrum of credit and status, giving brokers the ability to cascade up and down the range. In addition, we do not sell on discounted day-one rates that can lead to early redemption penalties, our pricing and product structure is extremely comparable with high street lenders, and we have set the highest standards for transparency and disclosure. Commercial First is regulated by the FSA, and we have produced our own Key Facts Illustration alternative for non-FSA regulated loans.
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We have broken new ground by publishing products that are understandable by brokers and standardised the process of completing mortgages on commercial property, helping to achieve faster completions. Our approach has challenged many established lenders, increased competition and led to improved products and service for business customers.
Rather than scratching the surface, we would like to think we have one of the widest offerings of any commercial lender and helped put commercial on the mainstream agenda for mortgage intermediaries.
Stephen Johnson
Sales and marketing director
Commercial First
