Yellow Belly
Registered User
- Messages
- 215
It is becoming increasingly difficult to source a lender in the market for commercial mortgages- many might as well have a sign up saying that they are closed for business- this assumption is based on recent experiences based on loan to value reductions, underwriting criteria, and finnaly on rates quoted.
Deals that would have been approved by nearly all lenders 6 months ago, now struggle to get approval, and rate pricing has gone through the roof it seems. Deals that were priced off at 5.3-5.75% in late 2007 would now attract pricing of between 6.75-7.5%.
Has anybody had a recent good experience with any commercial lenders? All experiences would be appreciated as we currently have a number of commercial clients who are struggling to get approvals on good quality, properly geared cases.
Deals that would have been approved by nearly all lenders 6 months ago, now struggle to get approval, and rate pricing has gone through the roof it seems. Deals that were priced off at 5.3-5.75% in late 2007 would now attract pricing of between 6.75-7.5%.
Has anybody had a recent good experience with any commercial lenders? All experiences would be appreciated as we currently have a number of commercial clients who are struggling to get approvals on good quality, properly geared cases.