Lender Reduces Some Arrangement Fees
It is interesting to hear that Shawbrook Bank has lowered the arrangement fee % it charges in respect of its commercial mortgage department’s term products. Apparently, it will now charge an arrangement fee of 1.5% rather than 1.7%.
You may be surprised just how much that 0.2% reduction would make. On a loan of £300,000 that would equate to a saving of £600 – that is no small sum.
We are sure that you will agree this is a welcome move on the part of a lender. It will be interesting to see if any other lenders follow suit.
When looking at which lender to place your commercial mortgage application with there are a number of factors that need to be taken into account. These include things like the types of interest rates they have available such as fixed and variable rate, what the interest rates are, what is the annual percentage rate (APR), what security is required, what is the maximum loan to valuation that the lender will consider, what documentation is required by the lender i.e. business plan, cash flow forecast, audited and management accounts, is a commitment fee payable and of course what arrangement fee is payable.
A business customer can spend a great deal of time looking at what the numerous providers of commercial mortgages requirements are. However, would that time not be better spent devoted to running the business? Would it not be better to use the services of a commercial mortgage broker that has access to many different lenders and knows their exact requirements?
We will do our utmost to help you source a suitable lender from the panel of lenders that we have at our disposal saving you a considerable amount of time and possibly some money as well. Therefore, why not get in touch with a member of our specialist team to discuss your requirements.