Vesta Commercial has launched its commercial division with immediate effect and has already begun dealing with intermediaries’ commercial mortgage enquiries. The division’s staff, who specialise in commercial cases, operate alongside Vesta’s residential mortgage packaging team, which is based at the company’s Poole head office.
Vesta expects the division to be used by the increasing number of brokers who want to move into the burgeoning commercial mortgage market sector.
Mark Leaper, managing director of Vesta, said: “At the present time, the majority of residential mortgages go through intermediaries, but the share they have of commercial lending is very small. Brokers are now waking up to the opportunity presented by this sector and Vesta intends to be in prime position to meet their needs.”
He added: “The division will allow intermediaries to pass us a client’s details and we will do the rest, seeing the case through to accepted offer, while obviously respecting the broker’s relationship with the client.”
The mortgage division has access to products offered by NatWest Commercial, Commercial First, London Scottish Commercial Mortgages and Blemain Finance.
Sian Brown, national sales manager at Trustguard, said: “We have just opened a commercial department. This means we have a complete offering to brokers. We have always been prominent in these other areas and this will add another string to our bow.”
Stephen Johnson, sales and marketing director at Commercial First Ltd, said: “The encouraging sign for brokers is that much activity appears to be focused on broker distribution.”
