The new division will be located at Genesis’ mortgage centre based in Peterborough and the operation will be supported by Commercial First, a well-established provider of business finance. Through Genesis, intermediaries will be able to target status, semi-status and non-conforming businesses with a range of competitive products. Advances range from £50k to £2m with a maximum 80% LTV. (100% finance is available with additional security). No audited accounts or business plans are required.
John Lee, Head of Sales and Marketing at Genesis, commented: “Setting up a specialist commercial division is a key part of us having the broadest possible range of products for our customers. In addition to having a substantial panel of residential lenders – well over 50 in total - we now have a dedicated commercial division to provide mortgages to non-conforming and small businesses.”
Stephen Johnson, Sales and Marketing Director at Commercial First, said: “Our message is simple; intermediaries should be aware of the opportunities that exist for them in the commercial market. It represents a massive opportunity to help more clients and earn more income. We are delighted to be working with Genesis. It is another example of the growing importance of this market.”
For more information about this service, or brokers who would like to discuss a case,contact Sarah Ford, Commercial Sales Adviser on 0870 242 1213.
