The commercial mortgage market has received a massive boost with the news that Business Finance UK Ltd are to re-enter the market, proving a welcome recovery following the recent departures of the likes of Commercial First and Base Commercial.
Having been active in the market a few years back, BFL’s re-introduction is now seen as the fulcrum of the new era of commercial lending, where interest and demand are ever-increasing.
Such news has brought a fresh wave of confidence in what now appears to be a burgeoning demand for specialist commercial lending and BFL wasted no time in utilising Commercial Mortgage Solutions to run their sales processing centre whilst providing exclusive distribution for their lending.
“The timing of our entry into the commercial lending environment has always been of paramount importance to us,” stated BFL Chairman Richard Gardner. “We did not want to compete with the high volume lenders. We are delighted to be working with Commercial Mortgage Solutions, a company we have known for a number of years, and whose experience and service levels are of a very high standard. I firmly believe that we have the right lending criteria for the current market place.”
Adrian Coles, Managing Director of Commercial Mortgage Solutions expressed a mutual admiration, “I am delighted to see the return of the BFL team to the market place. Their re-entry, whilst being seen as very timely, perfectly complements the range of lenders we regularly use.
In the second quarter of this year our enquiries and applications are on the increase. Whilst we have a superb technology based business, we have not forgotten the need for introducers to speak directly to our underwriting team,” he admitted. “Our aim now is to work closely with our distribution partners and introducers to help them enjoy the benefits of adding commercial loans to their portfolios.”
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