Well, the short answer is that you dont have to if you dont want to!
Anybody looking for a commercial mortgage is quite at liberty to apply and negotiate directly with any commercial lender – although there are some commercial mortgage lenders who will only deal with professional brokers.
To be realistic, the real question is do I have time to keep track of all the product changes, offers, restrictions and opportunities that constantly change? Because building up a network of commercial mortgage lenders is a full time job for a commercial finance broker. Not many business people, property developers or investors have the time to keep their fingers on the pulse of this ever changing market place.
Anybody who does not at least consult a commercial mortgage broker for free advice is possibly depriving themselves of a significant advantage when it comes to getting the best deal.
Maybe the real concern most people express is Do I have to pay a broker fee? Again the short answer is ‘No’ – for the majority of cases there is no real reason for a broker to charge a fee for arranging a standard commercial mortgage. This is because a...