Trying to get the best commercial mortgage rate is perfectly understandable, after all a fraction of a percentage point can make a huge difference to the repayments on a larger commercial loan. However, when searching for a competitive rate you should bear in mind that the broker or lender is going to need plenty of information to support the enquiry.
Imagine if you will that someone puts a box containing a 300 piece jigsaw puzzle in front of you, shows you only ten pieces and says Describe the picture to me what are the chances you would be able to do it? You may be able to say Well, it looks as if its a sunny day and I think I can make out part of a tree but apart from that very little.
This may sound like an irritating evasion of the issue but the question Im looking for a commercial mortgage, whats the best rate you can get me ? is equally difficult to answer if a useful response is expected. Not least because different people have a quite different understanding of what types of commercial mortgage will qualify for a headline rate.
Of course there are some brokers who will quote you a very favourable rate off the top of their head. This is a little...
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