BFL Enter Commercial Lending Market

Mon, 18 Aug 2008

Business Finance UK (BFL) has added its name to the list of commercial mortgage lenders in the UK .

The company launched into the UK market at the start of August with a lending criteria that includes a minimum loan amount of £100,000, maximum loan-to-value (LTV) of 70 per cent and a maximum term of 10 years.

Commercial Mortgage Solutions have been put in charge of running BFL’s sales processing centre and to provide exclusive distribution for its lending .

BFL chairman Richard Gardner stressed the importance of waiting for the right moment to launch the lender into the market.

"The timing of our entry into the commercial lending environment has always been of paramount importance to us," he commented. "We did not want to compete with the high volume lenders ."

But according to the chairman the group is not new to commercial lending and was active in the market a number of years ago.

Commercial Mortgage Solutions MD Adrian Coles spoke of his delight on witnessing the return of the BFL team to the market place.

"Over the years we have done a lot of business with them. Their re-entry, whilst being seen as very timely, perfectly complements the range of lenders we regularly use.

He added: "We are entering the new world of commercial lending at a time when interest and demand are growing. In the second quarter of this year our enquiries and applications are on the increase."
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