Finance brokers across the country are writing commercial loans that are hitting a new high. Mortgage brokers are turning to support commercial business, with CoreLogic reporting that there had been a 5.43% growth in mortgage brokers entering the commercial finance world over the last six months.
Capita Finance General Manager Gill McLean, she explained that “we are seeing the growth in this division of broking as the real estate industry has become a little more hesitant”. The space that was previously held by mortgage loans is now being filled by commercial and business finance. Mrs McLean also went on to say that “our team is very robust in our functionality. Our brokers who would predominantly focus on supporting the home loan market, are more than equipped to deliver advice and product support to our commercial clients as well. We are prepared for the current, and projected changes in the current market”.
The reports also showed that the value of the settled commercial lending reached $8.99 billion dollars through the April to September 2019 period. This is its second highest value. The availability of product and support is growing around the commercial finance spaces as challenges and opportunities arise in our ‘new normal’. These trends are also in line with year-on-year growth, which saw the commercial loan book grow by $3.03 billion, or 7.57%.
We at Capita Finance can understand, especially in light of recent changes, that running a business can be stressful. Our goal is to be here to support you through these changes and help you understand the options you and your business have in front of you. We believe in understanding your business objectives and goals. Just like a personal or mortgage loan, business finance can come in all shapes and sizes, it is important to match yourself, and your goals, with products and services that are going to help you achieve them.
If you have questions, concerns or even opportunities in front of you speak with a Capita Finance broker today.