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Find the Right Commercial Mortgage Broker

A guide to finding the best commercial mortgage brokers in the UK

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Pete Mugleston

Author: Pete Mugleston - Mortgage Advisor, MD

Updated: December 9, 2021

We often hear from customers who are looking for the right commercial mortgage broker to help them realise their business goals.

If you’re in this exciting position and are planning to take out a mortgage to buy a shop, pub, cafe or even a church, the advisors we work with can help you to find the most suitable commercial mortgage broker for your needs – even if you’ve been turned down by lenders in the past.

Financing a commercial property purchase can be a complicated business, and many people find the prospect daunting at first, so we’ve also put together this brief guide to help you get started in your new venture.

This article is about what to look for in a commercial broker and how to get the best service from one.

If you’re seeking more general business mortgage help or commercial mortgage advice such as who can apply, what types of business mortgage are available and how to qualify for the best deals and rates, take a look at our section on commercial mortgages.

What does a commercial mortgage broker do?

Commercial mortgage brokers, sometimes called commercial mortgage advisors, help customers to finance business property purchases by acting as an intermediary between customer and lender.

They generally work with high street banks and other big name lenders, but may have additional access to some more niche providers that don’t deal with the public directly.

UK commercial mortgage brokers are regulated by the National Association of Commercial Finance Brokers (NACFB), and they work with the full range of businesses from one-person startups to multi-million pound companies.

Some commercial brokers charge a fee for their services, others do not. Some are independent while others have close ties with a particular provider. They may operate online or face-to-face and can be specialists in a specific niche (such as retail or the charity sector), or in all areas of commercial lending.

Get Started With A Broker Ask Us A Question

Ask Us A Question

We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in all different mortgage subjects.

Ask us a question and we'll get the best expert to help.

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How do commercial mortgage brokers differ from standard brokers?

Commercial or business mortgage brokers differ from the residential brokers you may be familiar with, in that they deal with transactions involving commercial property, such as retail units, restaurants, public houses and other business premises as well as financial products such as commercial bridging loans. In most other respects, their working methods are the same.

Some brokers stretch their work across both residential and commercial clients, and you may find that a commercial mortgage specialist is better equipped to help get your project off the ground than a general broker, as the former tend to have a deeper knowledge of the sector.

Why is it important to find the right commercial mortgage broker?

Since business financing is such a bespoke service, it’s really importance to find a broker that understands your individual circumstances as well as your business needs in depth, while also having great industry knowledge and strong relationships with a number of lenders working within that area.

The best commercial mortgage brokers will have contracts with numerous lenders and operate with a high level of impartiality. This allows them to pick and choose the best available deals to benefit you, not just those that will result in the best kick-back for them.

A good broker takes pride in being transparent and accountable with customers, so not only should they be able to provide you with sound advice, but also to back it up with their reasoning for why they are recommending a particular lender or product.

Be wary of brokers that only have ties to one or two lenders, as these are less likely to be acting in the best interests of you and your business than one with access to a wider range of providers.

Go for an independent commercial mortgage broker with access to the whole market for the best level of service.

Finally, any broker you work with should be listed with the NACFB: the advisors we work with will be happy to direct you to brokers that are fully compliant with their rules.

What to expect from a commercial property mortgage broker

All mortgage brokers, commercial or otherwise, essentially earn their keep by streamlining the process of finding a suitable lender and homing in on the best products and deals.

This saves you from the inconvenience of researching and comparing a large number of potential lenders, while you’ll also benefit from their expertise in the commercial mortgage sector.

Moreover, they will also have access to challenger banks which you may not be familiar with. Challenger banks have a more open approach than high street banks.

As well as doing the heavy lifting on the mortgage search and comparison, brokers are qualified to provide you with commercial mortgage advice, and as long as you work with a NACFB accredited brokerage, they have a duty of care to you and need to be able to justify any recommendations they make.

This also gives you legal redress if you feel you’ve been given bad advice.

Access to protected, professional advice is particularly important when arranging business mortgages, which tend to be more complex than residential transactions.

You should expect your broker to make time for any questions you may have, and to address any concerns to your satisfaction.

What types of commercial mortgage brokers are there in the UK?

There are specialist commercial mortgage loan brokers who have expertise in many of the niches with the commercial mortgage market, such as…

  • Commercial mortgage brokers for customers with bad credit
  • Commercial mortgage brokers for first-time investors and start-ups
  • Commercial buy to let mortgage brokers
  • Commercial mortgage brokers who specialise in specific industries, e.g. agriculture
  • 100% LTV commercial mortgage brokers

We have access to all of the above broker types, so if you fall into any of the specific niches they cover, get in touch and we’ll connect you to one of them over the phone.

What fees do business mortgage loan brokers charge?

Most business mortgage brokers in the UK charge a broker fee for arranging the deal and the amount you will pay is usually based on a percentage of the loan (1% is standard).

Be wary of a commercial mortgage finder who charges high upfront fees. Brokers should only be paid upon success, and the ones we work with will only bill you for broker fees if they’re able to arrange a mortgage for you. They will refund any upfront fees if not.

What’s different about the brokers we work with?

The commercial mortgage brokers we work with are ideally placed to secure the best financing deal for your business.

We offer a 5-star service with access to expert brokers who have access to the whole of the market, know the best lenders to approach as they have existing relationships with them already, and are fully accredited by our official LIBF scheme.

Want to save time and money? We can find the best commercial mortgage broker for you

Ready to get started on your new venture? If you have any questions or want us to help you track down the right business mortgage advisor for your needs, call Online Mortgage Advisor today on 0808 189 2301 or make an enquiry, and we’ll get right back to you.

Then sit back and let us do all the hard work in finding the broker with the right expertise for your circumstances. We don’t charge a fee and there’s absolutely no obligation or marks on your credit rating.

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We know everyone's circumstances are different, that's why we work with mortgage brokers who are experts in Commercial Mortgages

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About the author

Pete, an expert in all things mortgages, cut his teeth right in the middle of the credit crunch. With plenty of people needing help and few mortgage providers lending, Pete found great success in going the extra mile to find mortgages for people whom many others considered lost causes. The experience he gained, coupled with his love of helping people reach their goals, led him to establish Online Mortgage Advisor, with one clear vision – to help as many customers as possible get the right advice, regardless of need or background.

Pete’s presence in the industry as the ‘go-to’ for specialist finance continues to grow, and he is regularly cited in and writes for both local and national press, as well as trade publications, with a regular column in Mortgage Introducer and being the exclusive mortgage expert for LOVEMoney. Pete also writes for OMA of course!

Read more about Pete

Pete Mugleston

Mortgage Advisor, MD

FCA disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms who are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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