With so many lenders out there and with most of them employing business development teams do property developers and traders really need the services of a commercial property finance broker?
Racefields is betting that you don’t and that it is quicker and cheaper to deal directly with the lender. Successful lenders are built to compete, they know their market sector well and can effectively price to risk. Borrowers that use Racefields have their loan application presented to every lender that has access to the Exchange. Lenders are invited to bid for the loan, but it’s not all about the interest rate.
Just as important can be loan-to-value, speed of funds, the lender’s willing to accept additional security and if a second charge loan is possible. Very few lenders offer everything, as a rule they focus on sectors within the property finance market. Lending criteria can change as market forces come to bear such as a lender having a loan portfolio that is too heavy with a certain type of property. On the Exchange all the lenders are offered access to all the loan applications with no exceptions. No brokers are allowed on the Exchange, so everyone deals direct, decision maker with decision maker.
So, do you really need a property finance broker? Probably not.