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Jessica Darnbrough
Brokers that are looking to diversify their service proposition should look at the commercial lending space.
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Speaking to The Adviser, Sintex’s general manager Cathy Dimarchos said there are plenty of business opportunities in the commercial market at the moment for those brokers that play their cards right.
“If you look at your own client database, you are bound to find mums and dads that run their own business and are potentially looking to buy another shop or upgrade into a bigger premise,” she said.
But Ms Dimarchos warned brokers that are interested in diversifying into commercial lending not to take on loans that are too difficult.
“Commercial lending is very complex, which is why so many brokers shy away from this area. The key is to look at clean, simple loans and transactions. Don’t go for over complicated loans and you will ultimately reap the rewards because most mums and dads that own a small business will also have a mortgage.”
