Bridging lender to offer brokers double commission

Bridging lender to offer brokers double commission




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Manchester-based bridging lender, Lowry Capital, has announced changes to its commission structure that will make it the first short term lender to offer intermediaries extra commission on redemption.    

Brokers placing business with the firm can now earn a top-up commission when their client’s short term loan is redeemed, as well as the initial procuration fee.

 

For example, if a broker arranges a bridging loan of £200,000, typically they would receive £2,000 on completion and an extra £500 in commission when the loan is redeemed, equal to 0.25% of the amount borrowed.

 

This will work in addition to the extra commission brokers can earn from the long term lender who they have arranged to refinance the bridge, meaning that brokers could now have the opportunity to earn three sets of commission.

 

Jonathan Caplan from Lowry Capital commented: “We decided to implement this new commission structure as a way of thanking brokers for their good business and rewarding their efforts. As brokers are still struggling with current market conditions we feel that it is only fair if they can share in our company’s success.”

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