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Dealing with lenders is a lot like selling your house

Published 06/02/2018 10:22:23

When you’re selling a property, do you and your agent write up some sales particulars that just says ‘Buy me now for £400,000’?

No, of course not. Not everything can be sold like it’s on eBay. You make sure that the sales particulars are thorough, floorplan is correct, quality photos showing the property in its best light and you ensure that you have agreed on a marketing strategy that will maximise the chance of you receiving a good offer.

Well, the same is true when you’re applying for commercial finance.

Some brokers just send a short email with a few details of the application to check to see if the lender has the appetite. To be honest, a lender can’t make any decision based on what we’ve seen, and that’s why every time we apply for finance on our clients’ behalf, we make sure that the lender has all the relevant information to hand. This not only helps our clients potentially receive their funds faster, but it also deepens our relationships with the lender. We know they like to receive proper applications.

Remember, when you’re applying for commercial finance, you need to give yourself the best chance to gain funds. This can only be achieved if you or your broker give them everything they need to make a timely decision.

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