13:20 PM, 17th March 2012, About 10 years ago 29
If you are a regular reader of our news and blogs here on Property118 you may have noticed that in the last few days we have added some new badges to the right margin of our website advertising Commercial Mortgages and Development Finance.
When we started property118.com we made a pledge never to charge our readers and that’s not changed. If you need help we will endeavour to provide it free of charge. We make our money from advertisers and organisations that employ us for marketing and research purposes. We never pass on data without your permission.
As you may know, my business partner and I founded a commercial finance brokerage in 1990 and retired from that business in 2009. During that time we met with several of the movers and shakers in the banks and niche lending circles and we were founder members of the National Association of Commercial Finance Brokers which reaches it’s 20th Anniversary this year. We remain very close to the NACFB and regularly network with their members and patrons. We know the right questions to ask to identify whether a project is financeable and we know who to refer you to when you need help. As you can imagine though, having retired from that business three years ago and having pledged to help for free we needed to systemise the process to keep it free.
We did this a while back when we launched our buy to let mortgage sourcing software, which we have also started to advertise more prominently on the website. That’s been very popular as it allows people to input their details and to consider the most popular lenders products, obtain quotes, calculate returns and basically to play around with figures to get a very good understanding of which lenders products are best suited to their requirements and perhaps more importantly, the optimal levels of finance.
The Commercial Mortgage Enquiry Form and the Development Finance Enquiry Form work slightly differently. This is because commercial finance proposals are underwritten individually. It’s not quite as simple as completing boxes and getting a quote. However, there is a standard set of questions we have been able to put together to establish who we should refer enquiries to, so that’s what we have done. This allows us to continue to refer our readers to the right people whilst not having to charge for the service. If anything comes of the deals we may receive a small commission but I’m sure nobody will have a problem with that. Rest assured we will only ever refer you to an NACFB broker who subscribes to an OFT registered Code of Conduct, secures their annual CPD certificate and whose services are backed by Professional Indemnity Insurance.
The bottom line is that we have made it cost effective to continue to provide this service and indeed to make it more widely known that such a service exists. Hopefully it will grow in popularity and create further interest in Property118, which of course is very important to our advertisers and the entire Property118 community. The more people that share their experiences the more we all learn. A famous quote that my very good friend Vanessa Warwick of the Property Tribes Forum often uses (I’m not sure of who first said this) is “we can never learn less” .
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