New commercial division launched by TML Financial Solutions
Mortgage specialist turns commercial mortgage leads into hard cash for brokers.
Read more: Can you pay for commercial mortgage leads?
This is a sector traditionally seen by high-street brokers as too complicated.
The Business Mortgage People (TBMP) is now organising mortgages for businesses to buy their buildings as companies see the long-term value of owning their own premises, or to remortgage on existing properties to release cash from the premises to help the business.
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Tim Kirby, managing director of TML says: “We are delighted with the response from companies. We saw a gap in the market and have expanded our portfolio of products to offer businesses this opportunity.”
Commercial First, one of the leaders in the UK’s specialist mortgage lending sector, will be providing the funds for the majority of TBMP’s service to commercial clients.
It’s also a great opportunity for brokers, as Robert Kelly, director of TBMP explains: “Many brokers will not deal with enquiries for commercial mortgages,” he says, “But we want to make it worth their while.”
“Now, instead of throwing commercial leads away, brokers can just pass them to us, and we’ll pay them commission on our earnings,” continued Mr Kelly. “We’re not saying ‘don’t do commercial business’. We’re saying ‘if you don’t want commercial business then don’t throw that piece of paper away – turn it into hard cash. It’s pure alchemy!”
The magic extends to TBMP’s attitude to ancillary products, as Robert explains. “We have a flexible approach. If a broker wants to protect their client relationship by simply passing the mortgage lead to us and selling the ancillary products themselves – that’s fine. But if they would prefer to pass the whole thing over to our expert panel of qualified salespeople, we will do it all ourselves and the introducer will get 20 per cent of whatever we sell.”
Commercial First’s sales and marketing director, Stephen Johnson, added: “Commercial First is about delivering a straightforward mortgage on commercial property and delivering income to intermediaries.
“We are moving into a mortgage market with increasing costs and decreasing margins. Brokers need to maximise their earning potential – commercial mortgages provide an opportunity. We are delighted to be working with TML Financial Solutions – they have committed a lot of resources and offer brokers a dedicated team with attractive commission levels.”
